BARCELONA (ICIS)--Decelerating demand growth in China this year will lower chemicals operating rates around the world, according to ICIS consultant John Richardson.
There will be a gradual deceleration of China’s economy throughout the rest of the year even if the US-China trade war is resolved, he argues.
Falling demand for durables and autos cut consumption of many chemicals in China in 2018, with figures from the ICIS Supply and Demand database showing styrene butadiene rubber (SBR) demand, for example, falling year on year by 11% in 2018.
Polystyrene and polyethylene (PE) consumption rose as the ban on imported plastic for recycling kicked on in January 2018, boosting demand for virgin material.
Listen to this podcast interview with John Richardson, who is based in Perth, Australia. John’s responsibilities include the polypropylene (PP) Asia and PE Asia price forecast reports and other multi-client and single-client work.
Look out for John's regular China Monthly article which publishes in ICIS Chemical Business on 1 March, available as part of the ICIS news subscription package.
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