This is despite reports of severely constrained shipping through the Strait of Hormuz, through which over 80% of total Middle East polyethylene exports travel. (ICIS)

Iran official statistics, below, show exports of polyethylene (all grades) totaling 1.3 million tons through August, down 48%. Exports rose to 212,000 tons in August, trending upward from May’s volume of 7,000 tons. Iran showed China as its top export destination, 700,000 tons, down 58%.

Iran transships polymer through other Middle East countries (ITP blog), which would also have been impacted by restricted passage through the Strait of Hormuz (IMF/University of Oxford).

China reported much lower imports from Iran than Iran reported as exports to China, 256,000 tons August YTD, down 67%, polymer apparently transshipped through other countries in the Middle East. China’s imports from Saudi Arabia were 1.1 million tons, down 33%; from UAE, 765,000 tons, down 48%.

China’s imports from all three sources trended higher in July and August, contradicting the narrative that few vessels were moving through the Strait.

From International Trader Publications’ World Trade Analyses on all grades of polyethylene, continuously updated analysis based on latest statistics from all reporting countries, and, The Iran Polymer Trade Report, analyzing Iran’s imports/exports of all commodity polymers, recyclable polymers and fabricated plastic products.