Home / Knowledge / News / Textiles / Asian petrochemical markets expected to slow down in Oct

Asian petrochemical markets expected to slow down in Oct

25
Sep '09
Industry resources and analysts aver that, with National Day holidays just round the corner, a significant slowdown can be expected in sales of petrochemical goods, more so, to do with the continuous fall in prices of key petrochemical products.

Chinese National Day holidays will be from October 1 to 8 and the entire Chinese market will be closed in that period and the likelihood of a strong recovery in demand after the holidays, does not seem in sight, observe the experts.

Since July, Asian propylene prices fell for the first time below the psychological mark of US $1,000 per ton (CFR China), due to strong resistance from buyers before the holidays. Surplus floating stocks of propylene continues to increase.

While at the same time demand from downstream manufacturers of acrylonitrile, propylene oxide and phenol in downstream industries is projected to decline in October. Overall transactions of styrene-butadiene rubber (SBR) in Asian markets have also weakened.

Meanwhile, spot transactions of benzene and toluene in Asia market have fallen; because most of the demand has been covered by long-term contracts as the holiday are approaching.

Market participants say, they hope that the price has bottomed out and expect a price rebound after China's holidays. Over the past two weeks, toluene price (CFR China) has dropped by US $20-40 per ton to $760 per ton CFR China on Wednesday.

Market transactions of propylene glycol also have synchronized to a slow down, but price has shown an upward trend since August due to tight supply. Ex-factory price of propylene glycol in China was quoted at 10,300-10,500 Yuan per ton.

Fibre2fashion News Desk - China


Interviews View All

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search