May 12 News According to customs statistics, in April, China's total import and export value of goods trade reached 4.38 trillion yuan, a year-on-year increase of 14.2%. Among them, exports were 2.48 trillion yuan, up 9.8%, and imports were 1.9 trillion yuan, up 20.6%. In the first four months, the total import and export value was 16.23 trillion yuan, a year-on-year increase of 14.9%. Exports amounted to 9.33 trillion yuan, up 11.3%, and imports were 6.9 trillion yuan, up 20%.

Chempricehub Analysis:

Liquefied Petroleum Gas (LPG) | Bullish/Bearish Score: 1
The better-than-expected import and export growth in April reflects improving domestic economic activity, leading to improved demand expectations for LPG in both chemical and residential sectors. On May 11, the DCE LPG 2701 contract closed at 5,497 yuan/ton, up 78 yuan/ton from the previous trading day. Supported by demand, spot and futures prices are operating on a strong note, presenting a generally bullish factor.

Pulp | Bullish/Bearish Score: 0.5
China's pulp import dependence is relatively high. April imports increased by 20.6% year-on-year, reflecting a recovery in demand in the domestic paper industry. On May 11, the SHFE pulp 2701 contract closed at 5,370 yuan/ton, up 18 yuan/ton, with open interest increasing by 291 lots. Demand expectations provide a moderately bullish support for prices.

Polyvinyl Chloride (PVC) | Bullish/Bearish Score: 0.5
Strong import and export performance drives improved demand expectations in downstream sectors such as real estate and infrastructure, supporting PVC prices. On May 11, the DCE PVC 2701 contract closed slightly lower, down 10 yuan/ton. Positive demand-side factors will gradually materialize, resulting in an overall bullish outlook.

Monoethylene Glycol (MEG) | Bullish/Bearish Score: 0.5
The high growth in April import data reflects a recovery in domestic chemical product demand. Demand expectations in the downstream polyester industry for MEG are improving. On May 11, the DCE MEG 2701 contract closed at 4,690 yuan/ton, up 5 yuan/ton, with open interest increasing by 526 lots. Demand support is generally bullish.

Coking Coal | Bullish/Bearish Score: 1
The recovery in economic activity has boosted production demand in the steel and coking industries, leading to improved demand expectations for coking coal. On May 11, the DCE coking coal 2701 contract closed at 1,547 yuan/ton, up 20 yuan/ton, with open interest significantly rising by 9,886 lots. Increased capital attention provides a generally bullish impact on spot and futures prices.

Hot-Rolled Coil | Bullish/Bearish Score: 1
Export growth of 9.8% year-on-year enhances external demand expectations for steel products. Domestic demand from infrastructure and manufacturing sectors also rises alongside economic recovery. On May 11, the SHFE hot-rolled coil 2701 contract closed at 3,506 yuan/ton, up 11 yuan/ton, with open interest increasing by 1,630 lots. Prices are operating strongly, indicating a generally bullish factor.

Iron Ore | Bullish/Bearish Score: 0.5
The recovery in production demand from the steel industry drives expectations for iron ore restocking, supporting prices. On May 11, the DCE iron ore 2704 contract closed at 795 yuan/dry metric ton, up 4 yuan/ton, with open interest increasing by 318 lots. The overall outlook is moderately bullish.

Glass | Bullish/Bearish Score: 0.5
Improved economic conditions boost demand expectations in the real estate completion phase, supporting glass prices. Positive demand-side factors are gradually emerging, resulting in a generally bullish outlook.

Soda Ash | Bullish/Bearish Score: 0.5
Demand from the photovoltaic and glass industries is expected to improve alongside economic recovery, supporting soda ash prices. Although the contract experienced a minor short-term adjustment, long-term demand support remains strong, resulting in an overall bullish outlook.

Wire Rod | Bullish/Bearish Score: 0.5
Demand expectations in the infrastructure sector rise with economic recovery, supporting wire rod prices. On May 11, the SHFE wire rod 2607 contract closed at 3,455 yuan/ton, up 41 yuan/ton, with increased trading volume. The overall outlook is moderately bullish.