Welcome to CCM International's first issue of Phosphorus Industry China Monthly Report in 2012.
With the advent of 2012, phosphorus industry presents itself a peaceful state to address the complicated economic situation.
Although China's national economy ostensibly slows down in 2011, most specialists still reach a consensus that China's GDP would exceed 9% in 2011. However, the good economic development doesn't promote the development of chemical industry correspondingly throughout 2011. Most traditional chemical products keep in the trouble of glut for a long time. Obviously, the depressed demand in downstream phosphorus industry reflects this situation well.
Furthermore, the Yuan against the dollar hit all-year high on Dec.30th, 2011—approaching 6.30, and returning to 6.31 during the first week of 2012. With the appreciation of Chinese currency, domestic export-oriented enterprises certainly would encounter great pressure. However, phosphorus industry, as an internal-oriented industry in China, is to be slightly impacted by the appreciation of Chinese currency.
Average exchange rate in Dec. 2011, USD:RMB=1:6.33
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