08 January 2009 10:42 [Source: ICIS news]
LONDON (ICIS news)--De-stocking, weakened demand, falling prices and production cuts. These were the issues dominating European chemicals as 2008 drew to a close against the backdrop of the sharpest economic downturn in living memory. ICIS news has taken a look across the industry to assess the damage and to see what this year may hold.
Here is a list of stories published over the end of year holiday period. Please click on a headline to read the full story.
OUTLOOK ’09: Crude unlikely to recover above $50/bbl
LONDON (ICIS news)--Crude oil prices, which dropped from a peak of $147/bbl in July 2008 to below $48/bbl in December due to weak demand resulting from the global economic crisis, are unlikely to recover above $50/bbl in 2009, analysts said.
LONDON (ICIS news)--European olefins players are looking ahead to 2009 with much wariness and varying degrees of pessimism following the unparalleled extremes of 2008 which have left so many shell-shocked, especially during the fourth quarter.
OUTLOOK ’09: Early-year increases, volatility for
LONDON (ICIS news)--While much of the latter part of this year has seen European styrene prices drop from record highs to near-historical lows against a bleak backdrop of crumbling demand, players within the wider styrenic complex said they were expecting early-year increases and a volatile 2009.
LONDON (ICIS news)--Polyethylene (PE) and polypropylene (PP) prices fell by record levels in the fourth quarter of 2008, demand was down by double digits and the outlook was gloomy as the year ended in sharp contrast to 2007.
LONDON (ICIS news)--Prices of monoethylene glycol (MEG) in Europe and its downstream derivatives will continue to be weak because of the economic downturn, although there is a faint light at the end of a rather long tunnel, market sources said.
OUTLOOK ’09: Weak demand expected for
LONDON (ICIS news)--The lacklustre trade and weak demand that has characterised the European oxo-alcohol and plasticiser markets during the fourth quarter looks set to continue into early 2009.
OUTLOOK ’09: Tax issues to dominate
OUTLOOK ’09: Balance sought in
LONDON (ICIS news)--Market sources' forecasts for the 2009 chlor-alkali industry were varied, with the depth and magnitude of the global economic downturn – and its effect on the European chlor-alkali market – hotly debated.
OUTLOOK ’09: Economic, auto woes to impact
LONDON (ICIS news)--With base oil demand so intrinsically linked to economic performance, huge question marks remain over the development of the market in 2009 both in Europe and within the wider global arena, as industrial production remains under threat and automotive industries sit under a heavy cloud.
LONDON (ICIS news)--A massive increase in global methanol capacity combined with a gloomy economic forecast makes further downward pressure on European pricing likely in 2009, with high-cost producers feeling the tightest squeeze.
OUTLOOK ’09: Fertilizer producers, traders tighten belts for 2009
OUTLOOK ’09: Chemicals makers face no ordinary downturn
OUTLOOK ’09: Shift ahead in global M&A amid credit crisis
OUTLOOK ’09: Chemical shipping faces stormy waters
LONDON (ICIS news)--The chemical shipping industry is facing tough conditions this year with crew shortages, piracy problems and poor market conditions due to the severe economic downturn, industry observers said.
OUTLOOK ’09: Analysts see an unclear horizon for CEE petchems
OUTLOOK ’09: German chems face tough year in falling economy
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