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(ICIS) -- China’s demand for prilled and
powdered polypropylene (PP) has been slowing, with the full-year import volumes
of the polymer expected to fall while its domestic production will have a
moderate increase, industry sources said on Tuesday.
Consumption of the material from downstream industries weakened
significantly amid a domestic credit crunch, as China continues with its
monetary tightening policy to tame inflation, they said.
China’s demand for
PP resins is estimated to grow by 5.7% this year to 16m tonnes, just about a
third of the 15.6% growth recorded last year, according to Chemease, an ICIS
service in China.
The country consumed 15.2m tonnes of PP in 2010, of which
4.8m tonnes or about 32% were imported, data from Chemease showed. This year,
Chemease expects China to take in 3% less PP from abroad at 4.66m
tonnes.
Meanwhile, China's PP output is estimated to rise by 10% to 11.4m tonnes
this year, slowing from a 28% increase in output last year at 10.3m tonnes,
according to Chemease. Of the total PP output in 2010, China exported 940,000
tonnes, the data showed.
mrcplast.com
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