The Iranian conflict and resulting constraints on feedstocks and raw materials was apparent in Korea’s trade in April.

With a shortage of naphtha curtailing domestic polymer production, as reported in Barrons, Korea imported record volumes of both polyethylene and polypropylene in April. The graph below is for Korea’s imports of ethylene polymers. (The graph of Korea’s imports of polypropylene also shows a new high).

As polymer production slowed, downstream producers of fabricated plastic products were among the first to be forced to reduce output (Petrochemical Crisis Triggers South Korean Industry Shutdowns). This resulted in record imports of polyethylene film and sheet in April, shown below, and also PP film and sheet and PE and PP bags and sacks.

Korea’s exports of polyethylene, shown below, declined in April and prices skyrocketed, with even lower shipments expected in the months ahead. (The graphs for polypropylene exports also show low export volumes and very high prices.)

From International Trader Publications’ Korea Polymer Trade Report, a monthly analysis of Korea’s imports/exports of all grades of polyethylene, polypropylene, styrenics, PVC and PET.