Chemical production value increases in China

26 March 2008 09:38  [Source: ICIS news]

SHANGHAI (ICIS news)--China chemical market kept a good balance between supply and demand in January and February while the sale versus production rate reached 97%, sources from the China Petroleum and Chemical Industry Association (CPCIA) said on Wednesday.

Production value in petroleum and chemical industries grossed yuan (CNY) 915.442bn ($130bn), an increase of 29.5% on January and February 2007, according to data from the National Bureau of Statistics.

Basic inorganic chemical prices were still on the uptrend on strong demand. Fertilizer prices went up sharply by 34% over the year on increased production costs and demand growth, said the source.

Rapidly rising energy and raw material prices helped to increase production costs.

($1 = CNY 7.04)

By: Dolly Wu
+65 6780 4359

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