Source of picture: www.americanprogress.org
By John Richardson
China’s high-density polyethylene (HDPE) demand is expected to grow by 38% to around 7m tonnes forecasts CBI China, the Shanghai-based commodity information service.
Linear-low density (LLDPE) is expected to rise by 30% to 4.6m tonnes and low-density polyethylene (LDPE) will increase by 20% to 3.4m tonnes, adds CBI.
Polypropylene (PP) demand is expected to 24% to 13m tonnes, the company also predicts.
“This would be all-time high level of PE growth,” said an Singapore-based polyolefins trader.
Booming domestic demand and a decline in recycling appear to be the major drivers of this extroardinary growth.
Can it continue? Perhaps, yes, as speculation grows that the Yuan will be revalued - leading to more hot money pouring into the economy