China August PE, PP imports rise 8% year on year

24 September 2012 09:50  [Source: ICIS news]

SINGAPORE (ICIS)--China’s combined imports of polypropylene (PP) and polyethylene (PE) in August totalled 1.31m tonnes, up by 8% from the same period last year and a 17.2% increase from July, official data showed on Monday.

Total PP imports in August were 500,500 tonnes, according to China Customs. PP imports rose by 10% from the same period a year ago and it is a 12.9% increase compared with the previous month’s figures.

The country’s PE imports stood at 817,300 tonnes in August, a 20% increase from July and up by 6.9% year on year.

The rise in imports in August was attributed to the traditional peak season for plastic downstream demand. The growing demand has boosted market players' confidence and increased buying interest, a trader in southern China said.

A trader in eastern China added the deep-sea cargoes that were purchased in June, but arrived in China’s main port only in August, contributed to the rise as well.

By: Amy Yu

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