Major Chinese producers’ polyolefin inventories decline w-on-w
by ChemOrbis Editorial Team - content@chemorbis.com
According to market sources, the two major Chinese polyolefin producers have witnessed a decrease in their PE and PP inventories compared to February 23.
The total polyolefin inventories posted a weekly decline of 70,000 tons, currently standing at 885,000 tons. This indicated a decline of around 7% from February 23 to March 1.
“After the fifteenth day of the first Lunar month, more downstream players have been back to the market to replenish. Buying sentiment has improved, although petrochemical producers lack confidence in the market outlook and push prices cautiously. Petrochemical destocking is expected to remain relatively fast,” commented a market player.
The total polyolefin inventories posted a weekly decline of 70,000 tons, currently standing at 885,000 tons. This indicated a decline of around 7% from February 23 to March 1.
“After the fifteenth day of the first Lunar month, more downstream players have been back to the market to replenish. Buying sentiment has improved, although petrochemical producers lack confidence in the market outlook and push prices cautiously. Petrochemical destocking is expected to remain relatively fast,” commented a market player.
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