China's toluene imports to decrease further
17 April 2008 05:11 [Source: ICIS news]
HONG KONG (ICIS news)--China is expected to see a reduction in toluene imports to below 20,000 tonnes/month in 2008 due to weakened downstream demand and the launch of new plants, a trader said on Thursday.
Import levels had dipped in 2007 from 40,000 tonnes to 20,000 tonnes, he said at the CBI International Aromatics Industrial Chain Conference.
One of the reasons for this fall in demand for imports was the capacity expansion due to new projects by CNOOC and Zhejiang Hebang.
Increased capacity in
Although toluene RMB prices have risen in the past week or two, sentiment among producers and traders with regard to the toluene business was somewhat pessimistic, he commented.
The two-day International Aromatic Industrial Chain conference in Hong Kong will run through 17-18 April.
By: Mahua Chakravarty
+65 6780 4359
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