Analysis to China’s SR Import in 2012

By Yan Feng

Slight reduction of the import amount

China’s synthetic rubber (SR) capacity expanded rapidly in recent years. Due to increasing demand, however, the output can hardly meet the needs in actual production, which has to rely on imports to some extent. According to customs statistics, the total import amount of 8 major SR products (latex excluded) – styrene-butadiene rubber, butyl rubber, polybutadiene rubber, nitrile rubber, chloroprene rubber, ethylene-propylene rubber, isoprene rubber and styrene-butadiene copolymer – was 1.21 million tons in 2012, a decline of around 1.56% from the previous year. Import amount of styrene-butadiene rubber, polybutadiene rubber, butyl rubber and ethylene-propylene rubber remained high, reaching 1.00 million tons in 2012, accounting for around 82.85% (down 0.02% YOY) of the total. Except for styrene-butadiene rubber, nitrile rubber and isoprene rubber, the import amount of other varieties made some reduction.  Styrene-butadiene rubber import saw the highest YOY growth of 8.96% to 324 500 tons. And the import of styrene-butadiene copolymer dropped most sharply to 48 600 tons, plummeting 32.41% YOY.

Major import sources

China imports SR mainly from peripheral countries/regions such as Korea, Japan, Russia and Taiwan Province, as well as the United States. And Fig. 1 shows major import sources in 2012.
   For many years, most SR products (imports) have been from Korea, which is the biggest exporter for styrene-butadiene rubber, polybutadiene rubber and nitrile rubber, and also the second biggest import source for styrene-butadiene copolymer. China imported 299 400 tons of SR from Korea in 2012 – 114 600 tons, styrene-butadiene rubber; 112 300 tons, polybutadiene rubber; 31 700 tons, nitrile rubber; 9 400 tons, styrene-butadiene copolymer.
   Furthermore, SR imported from the U.S. reached 192 900 tons in 2012; Japan, 181 100 tons; Russia, 152 700 tons; China Taiwan Province, 67 300 tons.
   * The U.S. is the biggest import source for butyl rubber and ethylene-propylene rubber, exporting 77 300 tons and 66 600 tons respectively to China in 2012.
   * As the biggest import source for chloroprene rubber, Japan exported 18 000 tons of chloroprene rubber to China in 2012. And it is also the second biggest import source for styrene-butadiene rubber, polybutadiene rubber and ethylene-propylene rubber.
   * Russia is the biggest import source for isoprene rubber, and exported 44 400 tons to China in 2012.
   * China Taiwan Province is the biggest import source for styrene-butadiene copolymer, exporting 22 700 tons to China last year.

Major import modes

SR import is mainly made in three modes, general trade, processing by imported materials, bonded warehouse storage transit goods. Table 2 shows relevant details.
China imported styrene-butadiene rubber, polybutadiene rubber, butyl rubber and ethylene-propylene rubber mainly in forms of general trade, processing by imported materials and bonded warehouse storage transit goods in 2012. And the import amount for the year of the four SR products in the three patterns are as follows:
   * Styrene-butadiene rubber – general trade (83 700 tons), processing by imported materials (154 300 tons), bonded warehouse storage transit goods (76 300 tons).
   * Polybutadiene rubber – 52 700 tons, 118 100 tons, 50 500 tons
   * Butyl rubber – 75 300 tons, 88 700 tons, 58 000 tons
   * Ethylene-propylene rubber – 177 400 tons, 22 300 tons, 9 300 tons
The import of isoprene rubber was mainly made in forms of general trade, small-volume border trade and bonded warehouse storage transit goods. The amount imported in the first pattern was 13 100 tons; the second pattern, 14 300 tons; the third pattern, 16 300 tons.  

Table 1  China’s Import of Major SR Products in the Past 2 Years (kt)
Variety    2011Import amount   Proportion (%)    2012 Import amount  Proportion (%)    YoY Growth (%)
Styrene-butadiene rubber    297.8            24.22    324.5          26.81    8.96
Polybutadiene rubber    246.8            20.07    236.0           19.5    - 4.38
Styrene-butadiene copolymer    71.9              5.85    48.6           4.01    -32.41
Butyl rubber    235.4             19.14    230.6           19.05    -2.04
Chloroprene rubber    20.4              1.66    20.0           1.65    -1.96
Nitrile rubber    84.7              6.89    86.0           7.10    1.53
Isoprene rubber    49.6              4.03    53.0           4.38    6.85
Ethylene-propylene rubber    223.1             18.14    211.8           17.50    -5.06
Total    1 229.7            100.00    1 210.5           100.00    -1.56


Table 2    China’s SR Trade Mode in 2012 (kt)

Import Mode    Import amount    Proportion (%)    YoY Growth
General trade    478.7    39.54    -1.26
Processing by supplied materials    31.9    2.64    -28.31
Processing by imported materials    424.8    35.09    0.81
Small-volume border trade    33.5    2.77    30.86
Bonded warehouse    16.6    1.37    41.88
Bonded warehouse storage transit goods    223.9    18.50    -6.55
Others    1.1    0.09    -47.62
Total    1 210.5    100.00    -1.56