China is leading the way forward as global trade rebounds. China’s GDP is estimated to have risen by a seasonally adjusted annual rate of 14% in the second quarter, OECD says. “The economic stimulus package implemented by the Chinese government has had a clear and positive impact on the national economy, and it is already evident that both demand and pricing of petroleum and petrochemical products are recovering,” Sinopec said late last month. The global petchem sector needs recovery to continue as Sinopec and joint venture partners are set to increase ethylene capacity by nearly 3 million m.t./year through next year, with plants at Fujian and Tianjin coming onstream in the second half, and another unit at Ningbo starting up in 2010.
Spring may be arriving about six months late for the global economy and chemical makers. Late summer economic news has been mostly favorable, and indicators point to continued improvement in demand. Inventory depletion is no longer dragging down demand, and restocking could provide some lift in late 2009.Time-chem will continue to work hard,, our Pharmaceutical Intermediates, Electronic Chemicals and Fine Chemicals products will give clients high quality ones, we will provide our best products and services to better display Time-Chem.
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