25 September 2009 10:27 [Source: ICIS news]
SINGAPORE (ICIS news)--China’s caustic soda exports hit a four-year low in August on the back of sluggish international demand and relatively high domestic prices, latest data from the China Customs showed.
The volume of caustic soda exports from the country plunged 67% month-on-month and 93% year-on-year to hit 10,083 tonnes. Market players attributed this plunge to the high domestic prices during July to August, which lured Chinese producers away from the export market.
Traders were confident the downtrend would be reversed in September due to rebounding export prices and following the flurry of deals concluded in late-August and early-September.
Caustic soda export prices languished in the low-$100s/dmt (€68/dmt) FOB (free on board) northeast (NE) ?xml:namespace>
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