China PE, PP likely to see fall in prices over excess supply and low demand

Related Keywords: Chinese domestic market, Ningxia Baofeng Energy plant, PE capacity, polyethylene, polypropylene, PP capacity, PP flat yarn prices, Tight credit conditions, upturn in demand

Singapore
China PE, PP likely to see fall in prices
Summary: 
The Chinese domestic market for polyethylene (PE) and polypropylene (PP) likely to continue seeing decline in prices into October, as scheduled plant start-ups of Ningxia Baofeng Energy’s plant will boost supply, with not much upturn in demand, according to industry sources on Wednesday.

The Chinese domestic market for polyethylene (PE) and polypropylene (PP) likely to continue seeing decline in prices into October, as scheduled plant start-ups of Ningxia Baofeng Energy’s plant will boost supply, with not much upturn in demand, according to industry sources on Wednesday.

China’s PE-PP capacity is due to increase by a total of 600,000 tonnes/year in October, with start-ups of Ningxia Baofeng Energy’s plants in the Ningxia Hui autonomous region. The new PE and PP plants have the same 300,000 tonne/year capacity.

http://www.icis.com/resources/news/2014/09/24/9822775/china-pe-pp-may-extend-falls-on-supply-glut-ahead-of-holiday/
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