Plant shutdowns and transport restrictions lead to random PE offers in Beijing

25-Jul-08
Dual forces are in play in the polyethylene markets of North China's Beijing City - plant shutdowns and transport restrictions. As the Beijing Olympic Games draw closer, demand for PE has taken a beating as most plants in the region have been shuttered; and the hampering of material movement. On one hand, with the shuttering of downstream plants, demand has slackened, and on the other hand, traders who are saddle with stocks cannot move them out of the area to high demand regions because of restrictions on transportation. Prices in the region have ebbed to a new low as these traders are anxious to liquidate stocks at all costs. Most traders based in Beijing are currently preferring to close deals at warehouses outside Beijing City.
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