19 December 2012 16:49 [Source: ICIS news]
LONDON (ICIS)--EU chemicals output fell by 0.2% year on year in October on the back of sharp falls in polymers production levels, industry body Cefic said on Wednesday.
Production for the first ten months of the year was down 2.2% compared with the same period in 2011, the association added, indicating that 2012 industry output levels to the end of October are 6.3% below the 2007 production peak.
Declines were noted in production levels of each of the chemical industry sub-sectors that Cefic monitors in October, with the exception of specialty chemicals, which marked a 0.5% increase in output year on year.
Polymers output fell by 4% year on year during the month, while petrochemicals output dropped by 5.3%, and basic inorganics and consumer chemicals output dropped by 0.5% during the period.
EU chemicals prices increased by 2.9% year on year in October, driven by a 5.1% increase in the price of petrochemicals. Prices for basic inorganics and consumer chemicals rose by about 1.3% each.
Overall prices for chemicals rose by 2.6% during the first ten months of 2012 compared with the same period last year, Cefic added.
Confidence in the EU chemicals industry rose slightly in November, according to the EU industry confidence indicator (CCI), as a result of bullishness in managers’ assessments of current order book levels, and current production expectations.
Picture source - Cefic
($1 = €0.76)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections