China Dec BPA imports hit record high on speculative buying

27 January 2010 09:00  [Source: ICIS news]

SINGAPORE (ICIS news)--Speculative buying may have pushed China's bisphenol-A (BPA) imports to a record high of 56,186 tonnes in December 2009, representing a 36.9% jump from November volumes, industry sources said on Wednesday.

Compared to the same period in 2008, imported BPA volumes surged 91%, based on official statistics. 

Some traders said that the figure was not as spectacular as it seemed, considering that imported quantities in late 2008 were exceptionally dismal due to the global economy downturn.

Buyers were taking positions in the fourth quarter amid optimism that prices had bottomed out, market sources said.

Rising upstream benzene, propylene and phenol values and healthier demand from the downstream polycarbonate sector also bolstered buying sentiment, they added.

China took in a total of 513,752 tonnes of BPA in 2009, up 22.3% from 2008, based on official statistics.

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By: Liu Xin
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