2012 outlook for petrochemicals in Taiwan to be dim

The outlook for Taiwan's petrochemical and basic metal sectors next year will be dimmer than for other sectors, a Ministry of Economic Affairs (MOEA) official is reported in CNA. Most manufacturers expect to hit bottom in Q1-2012, but the petrochemical and basic metal sectors could continue to struggle into the second half of the year, as per a survey. This can be attributed to a large dependence on exports to China. 30-40% of Taiwan's petrochemical and base metal exports normally go to China, to export oriented plastic processors, auto parts manufacturers and steel plate producers. These sectors have felt been negatively impacted by China's credit tightening policy and the eurozone debt crisis.
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