China polyolefins markets to escape overcapacity in 2010

12 November 2009 11:16  [Source: ICIS news]

SHANGHAI (ICIS news)--China’s polyolefins markets will not suffer from overcapacity next year despite new domestic capacities coming on stream, a senior industry official said on Thursday.

China’s polyolefins capacity will not have the excess capacity worry next year as nearly 50% of polyolefins in China is fed by imports,” Liu Jingfen, vice president of the China Plastics Processing Industry Association (CPPIA) told ICIS news.

“Therefore, the start-up of domestic new plants will reduce our dependence on the imports, but it will not lead to domestic overcapacity,” Liu said in Mandarin on the sidelines of a press conference for Chinaplas 2010, due to be held in Shanghai from 19-22 April next year.

Sinopec and SABIC’s joint-venture petrochemical complex will start up its polyolefins plants by the first quarter of next year.

Sinopec subsidiary Zhenhai Refining & Chemical Co (ZRCC) was also due to start its polyolefins plants early next year.

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By: Judith Wang
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