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China to import strong volumes of major petrochemical products in September

October 26/2011

(ICIS) -- China continued to import strong volumes of major petrochemical products in September as prices of most commodities declined in the international markets amid softer demand coming from industrialized countries in the West, industry sources said on Wednesday.


The country, the worlds second biggest economy, is a major importer of petrochemicals in Asia.
In September, China imported 6% more ethylene on a year-on-year basis to 79,760 tonnes, while it took in 8,774 tonnes of butadiene, representing a 16% increase, official data from China Customs showed. Its propylene imports totaled 143,332 tonnes last month, up 76% year on year, according to the data.


Spot ethylene prices on 30 September averaged $1,090/tonne (?785/tonne) CFR (cost and freight) China, down by more than 4% from the start of the month. Butadiene prices in Asia slumped nearly 21%, while propylene values tumbled 8% over the course of the month, according to ICIS data.
The decline in prices is largely caused by sluggish demand and a general bearishness in sentiment in the market amid fears of another round of global recession.


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Tags:propylene, ethylene.
Category:General News
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