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Acrylic trade portrays gloomy picture
01
Sep '08
According to the State Statistics Bureau and Customs data acrylic output of China during the first seven months of 2008 reached 341,600 tons, recording a year-on-year decline of 22.35 percent.

From January to June acrylic imports registered 92,700 tons and exports marked 5,800 tons. While June acrylic import price stood around $2570.55 per ton, export price was quoted in the range of around $3096 per ton.

Moreover statistics show that the planned investment of acrylic industry during January to June 2008 period totaled to 53 million yuan, also registering a year-on-year plunge of 82.15 percent.

Experts believe that besides international trade issues, RMB appreciation and new labour laws have made China less feasible option for investors. Thus, traders are now opting for South Asian countries where cost of production is lower.

During the first six months of this year actual investment registered 5 million yuan, representing a 95.92 percent fall as compared to same period of 2007, accounting for only 9.37 percent of the planned investment.

The number of construction projects in the year was four, down 33.33 percent from the previous year; of which only one project recently started operating.

However, analysts stress, silver line to the dark cloud was that the investment projects were progressing smoothly.

Fibre2fashion News Desk - China

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