BMI View: The Chinese petrochemicals sector is seeing slightly more robust growth, particularly in olefins, but this is insufficient to absorb ongoing increases in capacities. Combined with feedstock cost rises, this will cause a narrowing of margins. However, coal-to-methanol production should ease the situation over the medium term and reduce net imports in some segments. The total value of petrochemical production in China grew 11.6% y-o-y to CNY1.72trn during the first two months of the year with the value of imports rising 24.1% to US$19.6bn and exports growing 5% to US $13.8bn. In the first four months of the year, …
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