China Q4 petrochemical sales forecast to rise 17.8%

03 November 2010 09:50  [Source: ICIS news]

SHANGHAI (ICIS)--China’s petrochemical industry will likely post a 17.8% year-on-year increase in fourth-quarter revenues to yuan (CNY) 2,280bn ($341.3bn), according to an industry report quoted by Sinopec on its website on Wednesday.

Compared to the previous quarter, however, the last three months of the year may see a more moderate increase in product prices, based on the report of China Petroleum and Chemical Industry Federation (CPCIF) quoted by Sinopec.

Meanwhile, uncertainties in the global economic recovery would continue to weigh on exports, the report stated.

CPCIF, formerly known the China Petroleum and Chemical Industry Association (CPCIA), expected the Chinese petrochemical sector to post a 29.5% surge in full-year sales to CNY8,600bn, Sinopec said.

In the first nine months of 2010, actual industry revenue  grew 35.3% year on year to CNY6,330bn, according CPCIF.

 ($1 = CNY6.68)

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By: Judith Wang
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