China polyolefin market situation and outlook
In China, several new facilities including that owned by Wuhan Petrochemical started up in the quarter January to March and supply became ample. But buying interest from overseas is receding and demand is low. Under this situation, market sentiments are weak at this moment. Going forward, several facilities are scheduled to enter maintenance from April onwards and supply ampleness is expected to ease. On the other hand, due to a cold wave in the US in February, several polymer facilities were shut down. Operations of these facilities are recovering but export volumes are still low. This factor is supporting the market.