07 April 2010 15:31 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s petrochemical exports this year will face resistance as a result of the large capacities expected to come on stream from the Middle East, while domestic consumption will continue to absorb petrochemical products, industry source said on Wednesday.
With many petrochemical plants in the Middle East due to start up this year, their production of low-cost chemicals such as monoethylene glycol (MEG), polyethylene (PE) and polypropylene (PP) will be competitively priced compared with ?xml:namespace>
“The imported prices of some chemicals will lower around 30% than domestic products,” said Feng Shiliang, vice secretary-general of the China Petroleum and Chemical Industry Association (CPCIA).
Feng was speaking at the 3rd annual China Petrochemical Summit in ?xml:namespace>
Supply has still outstripped demand in the global petrochemical market despite the world economy’s slow recovery, making 2010 a difficult year for
“The housing and auto markets will continue to show good growth trend, aiding the consumption for petrochemicals,” said Shu Zhaoxia, chief analyst with Sinopec Economics and Development Research Institute.
The 3rd annual China Petrochemical Summit takes place in
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