02 October 2009 08:48 [Source: ICIS news]
LONDON (ICIS news)--Petrochemical industry profitability improved in the third quarter but high feedstock costs pushed many European and Asia producers towards the uncompetitive end of the cost curve, ChemSystems said late on Thursday.
“The economic performance of the petrochemical industry improved in the third quarter, after a first half of the year which had been one of the hardest periods since the early 1990’s,” the consultants said in a report summary published on its website.
Demand had increased but naphtha-based feedstock costs had risen significantly, reducing competitiveness for established players in export markets, it added.
“Margins meanwhile were ultimately supported by a very tight supply side, as extensive cracker outages restricted supplies of olefin feedstocks required for production of derivatives,” it said.
“A long awaited recovery in
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