03 August 2010 22:17 [Source: ICIS news]
HOUSTON (ICIS)--The ethylene trough will likely end by the early part of 2011 as fewer plants come on line and the global economy continues to grow, Dow Chemical chief executive Andrew Liveris said on Tuesday.
Liveris made his comments during an earnings conference call.
Overall, ethylene margins would likely shrink in the second half of this year, although by a smaller amount than initially expected, Liveris said.
New capacity was not starting up as quickly as some had expected, he said. Moreover, unplanned outages would continue.
At the same time, growth in the global economy was expected to beat earlier estimates, he said.
"We could see profitability in the polyethylene business decline by only $150m [€114m] in the third quarter," Liveris said. "Our polyethylene business will enter peak margin territory over the next few years."
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections