Episode 1005: Think Tank: Rampant China chemicals overcapacity could rebalance by 2024/5

Excess capacity plaguing China’s petrochemical markets could return to more balanced conditions by 2024/5 as the current wave of additions ends and demand gradually improves. -          China economic outlook bearish on construction, demographic drag-          Massive wave of capacity in China depresses margins, operating rates-          China petrochemicals markets could return to balance by 2024/5-          China switches from world’s biggest importer, to exporter of purified terephthalic acid (PTA), polyester fibre, PET resin-          China ramping up higher value products such as polycarbonate (PC)-          Smaller, older capacity likely to close in Asia, Europe