Endorser

Supporter

2009 Confirmed Media Partners

Organized By

Supported By

Press News

Great Petrochemical Event ------China Petrochemical Summit 2008 Closed Successfully Opportunities amid the Economic Recession --------2nd Annual China Petrochemical Summit 2009 Global petrochemical cycle at a crossroads between the economy and energy prices --------ICB Recession fears grip Asian petrochemicals --------ICIS news Chinese major refineries see positive refining margins in Oct, 1st in ’08 --------CBI China Chinese refineries return to profit in Oct'08 --------CBI China Falling petchem imports highlight China weakness --------SINGAPORE (ICIS news) More>>

Greetings


Greetings from CBI China

Forecasts for petrochemical products in 2009 are gripped by unpredictability due to wider implications from the global economic slowdown, with few market participants willing to hazard a guess given the high volatility seen in the previous year. Some products, like PVC, have seen prices rising by as much as 20% since hitting a low in mid-November 2008 but traders still consider it is more like a technical rebound. Producers across China have scaled back production to help counter weakening demand. Chen Rui, an analyst from the China Petroleum and Chemical Industry Association (CPCIA), said the country's chemical manufacturing industry would continue to slow down in the first half of the year. The outlook is hardly bright, whichever way you look at it. However, some forward looking people said there are some bright spots and the likelihood of a gradual and all but inevitable turnaround. What are these bright spots? The summit will tell you.

Mr. Alfred Wong
Editorial Director
CBI China

Greetings from ICIS

Petrochemicals in Asia will face a challenging year ahead in 2009 both from a supply and demand perspective. The onslaught of new petrochemical capacities, primarily polymers, from the Middle East and Asia is expected to come at a time when consumer demand is falling sharply due to the economic downturn. Shockwaves have hit all petrochemicals across the board, reverberated up the supply chain and forcing Asian raw materials sectors to shut production. Worse is expected for 2009. Amid the climate of tightening credit, Asian governments, particularly in China, are in the midst of finalising their announced stimulus packages which would take effect next year. From the perspective of China, the world's largest petrochemical importer, the mood of caution prevails. The second China Petrochemical Summit hopes to bring to light the macro-issues that will impact the industry in terms of demand forecasts, feedstock supplies, the economic downturn, logistics issues and the impact of government legislation.

Mr. Steve Tan
Managing Editor
ICIS Asia