25 November 2013 06:08 [Source: ICIS news]
SINGAPORE (ICIS)--China exported 126m tonnes of polyethylene terephthalate (PET) in October, representing a 5% decline from the previous month, amid a slow demand season, market participants said on Monday.
In September, China’s export volume for PET stood at 133m, a 17% decrease from August, tracking persistent decline in PET prices as a result of prevailing poor demand, according to China Customs data.
October being traditionally the low season for PET makers, an oversupply situation amid weak demand forced several Chinese PET makers to cut operating capacities while some producers shut their plants to cut losses, market participants added.
PET production in China was around 50% of capacity in November, said a market player.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections