29 August 2006 07:26 [Source: ICIS news]
SINGAPORE (ICIS news)--China’s polyethylene (PE) and polypropylene (PP) imports in July fell by up to 32% compared with the same month a year ago as recent price surges had sidelined buyers, market sources said on Tuesday.
PE imports fell 22% in July to 412,664 tonnes compared with the same month a year ago, according to statistics from the China Customs. ?xml:namespace>
Linear low-density PE (lldPE) imports recorded the sharpest decline of 32% to 111,983 tonnes, while high-density PE (hdPE) and ldPE imports fell 17% and 20% to 213,228 tonnes and 87,453 tonnes respectively.
Recent price hikes hit lldPE imports hardest as the material is mostly used by processors who sell their finished products in the local market, traders said.
Unlike other converters who produce for exports and are exempted from import duties, these processors have to pay the duties and hence are more resistant to polymer price hikes, they added.
Also, lldPE demand in the agricultural film sector was weak as the mulch film season ended in late April, traders said.
Greenhouse film production, another key lldPE application in
ICIS news previously reported that agricultural film processors in north
Middle East and Asian producers who export to
The smaller volumes have not stopped producers from raising their prices further due to tight supply and high olefins feedstock costs, one
“Our customers in
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