17 July 2009 12:41 [Source: ICIS news]
By Judith Wang
SHANGHAI (ICIS news)--China’s polypropylene (PP) imports will fall in the second half mainly due to new domestic capacities and decreasing arrivals of arbitrage cargoes after high imports in the first half of 2009, industry sources said on Friday.
“Many companies have concluded their restocking efforts in the first half of the year after a destocking in the fourth quarter of last year. And at the same time, domestic new capacities will also start up and the demand will not likely show a sharp growth in the second half,” Li Jia, a market representative from India’s Reliance Industries said.
“These factors will probably lead to a decline in PP imports,” Li said at a discussion panel on the 2009 Polypropylene Industry Chain Forum.
“Many low-priced import cargoes flowed to
“Import cargoes from the
Total PP capacities in the
Production of new plants in
Domestic downstream plants remained cautious at building up stocks this year. They were currently trying to keep a rational inventory level after experiencing a roller-coaster year in 2008, sources said.
The Polypropylene Industry Chain Forum runs from 16-17 July.
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