China’s BPA imports decline in June amid weak demand - traders

25 July 2012 10:58  [Source: ICIS news]

SINGAPORE (ICIS)--China’s BPA imports in June declined by 11.5% year on year to 36,789 tonnes as a result of weak downstream demand, traders said on Wednesday.

On a month-on-month basis, BPA imports dropped by 14% from May, according to the data of China Customs released on 24 July.

"The data is consistent with market expectations, domestic downstream demand has been weak recently," a trader said in Mandarin.

There were few signs of demand recovering in the rest of the year he said adding: “So traders will be more cautious to book new cargoes.”

Most traders are expected to stay on the sidelines in the near future and maintain low inventories.

The BPA prices in east China were at yuan (CNY) 12,800-13,000/tonne ($2,003-2,034/tonne), down by CNY200-400/tonne from last Friday due to muted buying interest and pessimistic economic outlook, traders said.

BPA is mainly used to produce polycarbonate and epoxy resin.

($1 = CNY6.39)


By: Jessica Mao



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