Chemicals

South Korea - September 2009 petrochemicals exports mostly up on strong China demand

Source: ICIS, 28 October 2009

With strong demand from China, petrochemical shipments from South Korea improved mostly in September 2009. Overall exports fell at its slowest pace in 11 months in the month, slipping 7.9% year on year to US$35.15 billion, according to Bank of Korea figures.

In September 2009, polymethyl methacrhylate (PMMA) had the most significant shipment growth in, surging 174% year on year, as flat monitors for television and computers gaining popularity. The Korean Industry and Trade Association data indicates the volumes of PMMA tripled at 9,706 tons in the month. Natha was the other notable petrochemical commodity export performers, with a 63.97% jump in the same month to 301,218 tons. Shipments of butadiene also grew a strong 44% to 18,862, while exports of aromatics such as toluene, paraxylene, mixed xylene and orthoxylene also grew in the month.

China - China imposes duties on imported chemicals

Source: AFP, 01 November 2009

China's commerce ministry will impose anti-dumping duty on adipic acid imported from the United States, the European Union, and South Korea for five years at a rate of 5% to 35.4%. The ruling takes effect on 2 November 2009.

The ministry said the decision to impose new tariffs was made after inquiry has found that "the products made in countries and regions like the US and EU are being dumped in China, causing substantial damages to the domestic adipic acid sector." Adipic acid is primarily used in the production of nylon 6-6 and for manufacturing polyurethane foam and polyester resins.

China - Petroleum, chemical industries' September output values boom

Source: TradingMarkets.com, 02 November 2009

The output value of China's petroleum and chemical industries set a new record high in September by increasing 3.3% on year to RMB614 billion (US$89.9 billion), ending its nine-month negative growth streak, according to the latest report by the China Petroleum and Chemical Industry Association.

The industries total output value accumulated to RMB4.68 trillion (US$685.4 billion) in the first nine months of 2009, down 7.9% on year, but the rate of decrease was 1.7 percentage points less than that from January to August, which has displayed an apparent rising momentum. The association predicted positive output growth for the entire industry in the fourth quarter of 2009.

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