<b>In June, China’s polymeric MDI exports continued to increase, while imports continued to decrease</b>

Polymeric MDI export: In June 2022, China’s polymeric MDI export volume will increase by 53% year-on-year, and the year-on-year growth to Europe and the United States will be significant
According to the latest data released by China Customs, in June 2022, China’s polymeric MDI export volume was 116,897 tons, a year-on-year increase of 53.2% and a month-on-month increase of 2.3%. The total export volume of aggregated MDI in June was slightly higher than the total export volume in May, mainly because the export weight to the largest export destination country, the United States, increased by 22.4% month-on-month, but the export volume to the Netherlands fell back; Closed, the original stranded goods left the port, driving a small month-on-month increase. The export volume of the month increased significantly year-on-year, mainly due to the significant year-on-year increase in the weight of exports to European and American countries such as the United States, the Netherlands, Brazil, Belgium and Turkey.
Breakdown by export destination, in June 2022, the United States, the Netherlands, and Brazil were the top three export destinations (by export weight) of aggregated MDI from China. Among them, the quantity of polymeric MDI exported to the United States was 32,869 tons, an increase of 46.5% year-on-year, and a month-on-month increase of 22.4%; the quantity of polymerized MDI exported to the Netherlands was 15,567.96 tons, a year-on-year increase of 234.7%, and a month-on-month decrease of 54.2%; polymeric MDI exported to Brazil The volume was 8,119.00 tons, a year-on-year increase of 334.9% and a month-on-month increase of 167.7%. In June, China’s aggregated MDI exported to the above three places accounted for 48.4% of the total export volume of the month. Other major export destinations include Belgium, India and Turkey.

Table 1. China’s aggregated MDI exports to major export destinations in June 2022, year-on-year growth rate and export volume ratio, etc.

In terms of cumulative volume, from January to June 2022, China’s cumulative export volume of polymeric MDI was 556,092 tons, a year-on-year increase of 4.3% compared with the cumulative export volume from January to June last year.

From January to June 2022, the United States, the Netherlands and South Korea are the top three export destinations of China’s aggregated MDI (by export weight). The cumulative weight of polymeric MDI exported to these three countries accounted for 48.2% of the total, and the cumulative export volume of polymeric MDI to these three countries showed positive year-on-year growth, with different growth rates, as shown in the figure below.

Polymeric MDI imports: In June 2022, China’s polymeric MDI imports continued to decline: a year-on-year decrease of 33% and a month-on-month decrease of 34%
In June 2022, China’s polymeric MDI import volume was 15,257.35 tons, a year-on-year decrease of 33.4% and a month-on-month decrease of 34.4%. In June this year, mainly due to the sluggish domestic demand, the import volume of polymeric MDI continued to decline in that month, and the decline rate was obvious.
From January to June 2022, the cumulative import volume of polymeric MDI in China was 128,316.98 tons, a year-on-year decrease of 17.1% compared to the cumulative export volume from January to June 2021.

Break down by import source, in June 2022, Japan was China’s largest import source of polymeric MDI, with an import volume of 6,866.69 tons (MDI mother liquor was included in Japanese imports), a month-on-month decrease of 3.1%. Saudi Arabia is the second largest import source of China’s polymeric MDI, with an import volume of 5,971.13 tons, a decrease of 52.0% from the previous month. Polymeric MDI imported from South Korea was 1,976.4 tons, a decrease of 36.2% from the previous month. The volume of polymeric MDI imported from the above three main sources accounted for 97.1% of the total import volume of the month.