SHORT-TERM tactics should involve maximising returns within regions along with a greater focus on exports anywhere in the world
Asian Chemical Connections
China self-sufficiency drive expected to accelerate in PE, PP, EG and PX
You might think it impossible for China to reach complete self-sufficiency in PE, PP, EG and PX. History suggests otherwise.
The China and global PP downturns mean CEOs should be asked some tough questions
HOW many PP company CEOs saw this coming, and what their plan now?
Overstocking may have boosted China PE demand as the US continues to win while others lose
THE US gains $296m in China HDPE sales as Asian and Middle East exporters lose $1.4bn.
China PP demand looks set to grow by just 1% in 2023 as sales losses increase
CHINA’S PP demand could grow by only 1% this year, while major producers saw their January-August 2023 sales in China decline by $796m versus the same months last year.
China PE demand continues to disappoint as real-estate woes persist
CHINA’S polyethylene demand growth in 2023 looks set to be flat over last year versus earlier forecasts of a 1.7m tonnes increase.
Major PE exporters to China see their sales fall by a further $1 billion
THE BIG PE exporters to China saw their sales to country decline by a further $1bn year-on-year in January-July 2023 versus January-June 2023.
China could be a net exporter of 9m tonnes of PP by 2040
CHINA’S PP net imports could total 5m tonnes in 2040, or the country may instead be in a net export position of 9m tonnes.
Big HDPE exporters see another $700m of estimated China sales losses in one month
NINE OUT OF CHINA’S top 10 high density polyethylene (HDPE) import partners saw their sales to China fall by an estimated total of $1.8bn in January-July 2023 versus the same period last year. Meanwhile, the remaining member of the top 10, the US, saw its sales increase by $233m.
Global PE capacity may have to be 23m tonnes/year lower in 2023-2030 to end the downturn
GLOBAL PE capacity in 2023-2030 may have to be 23m tonnes/year lower than the ICIS base case to bring markets back into balance
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