Major Chinese producers’ polyolefin inventories sizably down w-on-w
by ChemOrbis Editorial Team - content@chemorbis.com
According to market sources, the two major Chinese polyolefin producers have experienced a significant drop in their PE and PP inventories over the past week.
The total polyolefin inventories posted a weekly decrease of 80,000 tons, currently standing at 490,000 tons. This indicated a decline of 14% from January 19 to 26. Meanwhile, last Friday’s stock level, which was initially assessed as 585,000 tons, was revised down to 570,000 tons.
“There has been a rapid destocking activity in the petrochemical industry recently since downstream consumers have been stocking up some material before the holiday. However, the approaching holiday will certainly limit the stockpiling, which will in turn create pressure on suppliers as there will be accumulated allocations to sell in the post-holiday period,” commented a market player.
The total polyolefin inventories posted a weekly decrease of 80,000 tons, currently standing at 490,000 tons. This indicated a decline of 14% from January 19 to 26. Meanwhile, last Friday’s stock level, which was initially assessed as 585,000 tons, was revised down to 570,000 tons.
“There has been a rapid destocking activity in the petrochemical industry recently since downstream consumers have been stocking up some material before the holiday. However, the approaching holiday will certainly limit the stockpiling, which will in turn create pressure on suppliers as there will be accumulated allocations to sell in the post-holiday period,” commented a market player.
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