05 September 2012 14:08 [Source: ICIS news]
LONDON (ICIS)--EU chemicals production fell by 2.4% year on year in the first half of 2012, while output in June declined by 2.2%, European industry body Cefic said on Wednesday.
The performance of the sector for the first half of the year was 5.8% below the peak of 2007, Cefic said.
Declining output was marked in all sectors of the chemical industry in June – with the exception of basic inorganics and consumer chemicals, where production increased by 1.7% and 1.2% respectively, compared to June 2011.
Polymers production fell by 8.4% year on year in June 2012, while production for petrochemicals and specialty chemicals fell by 2.5%.
Chemicals prices for the month climbed by 1.6% year on year in June, driven in part by the overall price rise for basic inorganics, which increased by 3.7%. However, prices dropped overall month on month, falling by 1.2% compared to May.
The EU chemicals net trade surplus increased by €3.6bn ($4.5bn) in the first five months of 2012, compared to the same period last year, reaching €19.9bn. However, confidence in the EU chemicals industry continued to decline during the month – a trend that continued into August, according to EU Commission data cited by Cefic. Confidence in the industry has been trending downward since April. “This is in line with the EU industry as a whole, where confidence continued to decline since March 2012,” Cefic added
($1 = €0.80)
Source - Cefic
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