China’s plastic industry shows gradual growth

China’s plastic industry shows gradual growth

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In the first four months of this year, plastic output in China has expanded and is two percentage points higher than the country’s overall industrial output growth. However, currently at 11.5 percent, it is still slowing down from the 16.9 percent in the same period in 2012. The plastic industry has reflected the trends in the petrochemical market, as well as the macro economic situation.

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The report also mentioned that the industry has entered a period of reasonable growth after years of quick development. It was noticed that the Chinese plastic producers made 532.7 billion yuan from their main business, with a profit of 26.9 billion yuan. China was also exporting plastic products during the first four months of this year, for an estimated 16.8 billion yuan.

This marks an increase of 23 percent year-on-year. Even during the first quarter of 2013, a fixed investment into the rubber and plastic sector stood at 72.3 billion yuan, which marked an increase of 23.1 percent year-on-year.

The Dalian Commodity Exchange’s of China (DCE), in order to help manage the risks in the plastic industry, is preparing to launch the polypropylene futures by the end of 2013. At the moment, two plastic products, LLDPE and PVC, are traded on the DCE.