China’s January-April petrochemical output increases 34% in value

20 May 2011 12:02  [Source: ICIS news]

GUANGZHOU (ICIS)--The value of China’s petrochemical output in the first quarter of this year increased by 34% year on year to yuan to (CNY) 2,951.5bn ($453.4bn), the country’s economic planning body said on Friday.

China’s chemical sector generated CNY1,095.2bn worth of output, up 35% from the same period last year, the National Development and Reform Commission (NDRC) said on its website.

Profits from China’s chemical sector jumped by 62% year on year to CNY87.5bn, while those from the petrochemical industry increased by 43% to CNY104bn.

The commission said that prices of major petrochemicals have been rising since the beginning of the year.

Compared with March, the average price of caustic soda in April rose by 10% and that of propylene by 0.5%.

Average prices of toluene and paraxylene (PX) increased 8.6% and 3.1%, respectively, from March to April.

Prices of methanol, polyvinyl chloride (PVC) and styrene butadiene rubber (SBR) in April were up 4.9%, 3% and 5.2%, respectively, from March.

The price of polyethylene (PE) in April was flat compared with March, the NDRC said.

China’s refining sector generated CNY973.3bn worth of output, up 32% from the same period last year.

Profits from oil refining in China were CNY15bn, down by 16% year on year because of strong crude prices and capped prices for oil products, the commission said.

($1 = CNY6.51)

For more on polyethylene, PVC and other products, visit ICIS chemical intelligence
Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog

By: Fanny Zhang
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