31 January 2013 15:11 [Source: ICIS news]
LONDON (ICIS)--EU chemicals production edged up by 1.5% year on year in November following a fall in October, mainly because of strong output growth in petrochemicals, which was up by 6.6%, industry body Cefic said on Thursday.
Specialty chemicals output rose by 2.0% year on year in November, while polymers and basic inorganics registered similar growth rates of 1.8% and 1.6% respectively during the period, according to Cefic’s latest Chemicals Trends Report.
Consumer chemicals production, however, dropped by 2.1%.
Production for the first 11 months of the year was down 1.8% compared with the same period in 2011, the association added. Data for the January-November period points to EU chemicals production levels remaining 6.2% below the 2007 peak, Cefic said.
EU chemicals prices in November climbed by 2.7% year on year, while overall prices during the 11-month period also rose by 2.7%.
“Year-on-year EU chemicals prices rose in November by 2.7%, driven by the price for petrochemicals, which increased by 4.4% during the month. Prices for consumer chemicals rose by about 1.1%, while prices for basic inorganics went down by 0.3% in November 2012 compared with the same month the year prior,” Cefic said.
The latest Chemicals Trends Report also showed that overall confidence in the EU chemicals industry fell slightly in December, according to the EU industry confidence indicator (CCI), mainly because of less optimistic production expectations.
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