China POM imports, exports down in June on lower output, demand

06 August 2012 09:59  [Source: ICIS news]

SINGAPORE (ICIS)--China’s polyacetal (POM) exports and imports fell by 13.6% and 10.6% respectively in June from May because of the traditional manufacturing lull and weaker consumption, market participants said on Monday.

Exports of POM from the world’s second-largest economy declined from 5,557 tonnes in May to 4,803 tonnes in June, while imports fell from 19,817 tonnes in May to 17,718 tonnes in June. The figures include natural and compounded grades and represent a 27.6% decrease for exports and 18.7% fall for imports year on year, according to China Customs.

An expected weakening of demand in Asia during June had weighed on China’s shipments, market participants said.

Demand for Chinese goods also weakened, possibly because of the ongoing eurozone debt crisis, said a POM compounder.

China’s consumer purchasing index dropped to 2.2% in June, down from 3.0% in May, according to the National Bureau of Statistics of China.

The downstream industries of POM, namely in the automobile and electronics sectors, rely heavily on consumer spending. According to the China Association of Automobile Manufacturers (CAAM), the volume of China’s car production was 1,531,300 units in June, a decrease of 2.37% compared to May.

“Maybe it [demand for POM] will be better in September when manufacturing activities pick up,” said a market observer.

By: Heng Hui
+65 6780 4359

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