31 July 1995 00:00 [Source: ACN]
PRICES of polymer in Guangdong province have been surging and are expected to rise further in H2, bucking trends across Asian markets as the local imbalance between supply and demand worsens.
Production targets for polymer set by Sinochem are 2.02m tonne for 1995, while local market demand is estimated at 5.3m tonne. The shortfall has been exacerbated sharply in the last few months following the crackdown at China's southern ports.
In Guangdong, polymer prices have risen considerably compared with last year. LdPE has increased 15%, or Rmb1250-1300/tonne in H1 1995, compared with H1 1994.
HdPE has surged more than 20% by Rmb3-4000/tonne. PVC has risen 7-7.5%, or Rmb700/tonne. PP has increased 1-4%, or Rmb100-400/tonne.
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