Global chemicals output rose 0.7% in June

25 July 2007 22:12  [Source: ICIS news]

WASHINGTON (ICIS news)--Worldwide chemical production grew 0.7% in June, the strongest since March, with broad gains across the globe but especially in China, the Middle East and eastern Europe, the American Chemistry Council said on Wednesday.

 

The council said that on a year-over-year basis, the global chemicals industry saw a production increase of 3.5% in June compared with the same month in 2006. The council did not release any tonnage production numbers.

 

The year-over-year improvement was most pronounced in China, the council said, where production jumped 20.7% in June compared with the year-earlier month.

 

Strong gains also were recorded for the chemicals industry in central and eastern Europe, up nearly 7% from June 2006, the council said.

 

Eastern Europe improvements “reflect particularly strong gains in Croatia, the Czech Republic, Lithuania, Poland and Romania”, the council said, noting that production was off in Bulgaria, Hungary and Latvia.

 

Chemical sectors in several eastern European countries have benefited from their host nations’ new membership in the European Union, the council noted.

 

Regional output for chemicals in Africa and the Middle East gained nearly 4% in June compared with the same month last year. Strong growth was seen in advantaged feedstock locations in the Middle East as well as in Cyprus, Israel, Jordan, South Africa and Turkey, the council said.

 

Growth was less pronounced in western Europe, where June production was 2% better in June compared with the year earlier period. Among the strongest gains was a 7.3% year-over-year jump in Germany.

 

However, North American chemicals production increased by only a modest 0.4% in June, led by the US and Canada, the council said.

 

But North America fared better than its southern cousins, the council said.  Latin America, minus Mexico, saw chemicals output grow by a sub-par 0.1% in June compared with May and was up by only 1.3% from the year-ago June.

By: Joe Kamalick
+1 713 525 2653

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