PMDI Export

China’s PMDI exports totaled 77.6 thousand tonnes in July 2023, experiencing a month-on-month decrease of 12.8% and a year-on-year decrease of 5.9%, according to the latest data from China Customs. From January to July 2023, China’s cumulative exports of PMDI reached 684.8 thousand tonnes, which showed a year-on-year increase of 7.2% compared to the same period last year.

The average exporting price of PMDI in this July was USD 1,722/tonne, which represents a year-on-year decrease of 23.8%, but increased by 4.7% from the price in this June.

China PMDI Export Volume, Value & Avgerage Exporting Price from January to July 2023

By region, the United States was the largest destination for China’s PMDI exports from this January to July. The cumulative export volume of PMDI from China to the United States during this period reached 162 thousand tonnes, with a year-on-year growth of 2.8% but a month-on-month decrease of 31.6%. Besides, during the same period, the total volume of PMDI imported from China to countries of Belt and Road Initiative (BRI) reached 287 thousand tonnes, showing a year-on-year growth of 34.5%. (Note: As of January 6, 2023, China had signed over 200 cooperation documents with 151 countries and 32 international organizations under the BRI framework. BRI countries are important markets for China’s export trade.)

PMDI Import

China’s imports of PMDI (including crude MDI) totaled 31.8 thousand tonnes in July 2023, showing a month-on-month growth of 77.2% and a year-on-year growth of 37.8%. The month-on-month growth was mainly due to the recovery of imports from Saudi Arabia and Japan, reaching the normal levels seen in previous months. From January to July 2023, the cumulative imports of PMDI in China reached 170.6 thousand tonnes, representing a year-on-year increase of 12.6% compared to the same period last year.

In July, China imported 13.3 thousand tonnes of PMDI from Saudi Arabia, which has returned to normal levels. Imports of PMDI and crude MDI from Japan reached 9 thousand tonnes, showing a month-on-month growth of 89.0%. This increase was mainly due to the completion of maintenance at Tosoh Japan, resulting in the recovery of supply. However, during the same period, China imported 7 thousand tonnes of PMDI from South Korea, experiencing a month-on-month decrease of 8.3%.