16 July 2009 15:04 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s polypropylene (PP) demand will likely shrink in the second half of this year as companies conclude their restocking efforts and operating rates fall at plants in downstream sectors, a Sinopec official said on Thursday.
“I am not optimistic about the PP demand in the second half of this year, as restocking has almost completed in the first half of this year after a destocking in the fourth quarter of last year,” said Lu Shixin, a product manager with Sinopec’s chemical sales branch.
Lu was speaking on the sidelines of the 2009 Polypropylene Industry Chain Forum in ?xml:namespace>
The operating rates of downstream plants had shown an obvious decline from May, he said, adding that he thought the positive impact on the industry from
China's new PP capacities in the second half of this year were expected to total 800,000 tonnes, mainly from Fujian Refining and Petrochemical (FREP), Dushanzi Petrochemical, Tianjin Petrochemical and Panjin Ethylene, according to Lu.
Zhenhai Refining & Chemical Co’s new 300,000 tonne/year PP plant in eastern
“We will adjust our production sales strategy in time to cope with increasing new capacities,” Lu said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|