25 March 2010 11:22 [Source: ICIS news]
CHENGDU (ICIS news)--Bisphenol A (BPA) demand in the key China market is poised to rise in 2010 to 24% year on year, or over 900,000 tonnes, driven by robust demand from the downstream polycarbonate (PC) and epoxy resins sectors, market sources said on Thursday.
Sources were speaking on the sidelines of the 2010 Epoxy Resins & Raw Materials Forum at Chengdu, China.
Demand was estimated to be around 723,000 tonnes in 2009, up over 30% year on year, with imports accounting for 70% of the domestic requirement, traders said.
A strong PC market was the key factor underpinning BPA values. A recent recovery in epoxy resins demand, along with tight supply due to ongoing and upcoming turnarounds at regional plants, was expected to exert further upward pressure on spot BPA values, producers and traders said.
Offers and selling ideas were pegged at $1,800-1,850/tonne (€1,350-1388/tonne) CFR (cost and freight) China for April shipment, although trades remained scant as buyers were taking a cautious stance in light of the recent spike in BPA numbers, market sources said.
The two-day forum ends on 25 March.
($1 = €0.75)
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|
Asian Chemical Connections