08 November 2013 15:06 [Source: ICIS news]
LONDON (ICIS)--EU chemicals output in August 2013 fell by 0.5% year on year on the back of lower production of basic inorganics and specialty chemicals, trade group Cefic said in its Chemicals Trends Report on Friday.
Basic inorganics and specialty chemicals output each dropped by 1.9% compared with August 2012. Petrochemicals output also dropped, falling 3.2% in August compared with the same month last year.
The declines more than offset output growth of polymers and consumer chemicals, which grew by 0.5% and 1.5% respectively in August, Brussels-based Cefic said.
During the first eight months of 2013, total EU chemicals sector output went down by 1.1% year on year.
Also in the report, Cefic said EU monthly prices of chemicals in August were 0.8% lower compared with the same month last year, while producer prices for the first eight months of 2013 were at the same level as the same period in 2012.
However, “EU chemical producer prices during the first eight months of 2013 remained 12.6% higher than the pre-crisis full-year peak level reached in 2008,” it added.
Meanwhile, the EU chemical industry confidence indicator (CCI), generated by Cefic, shows confidence in the chemical industry in October significantly improved compared with September.
“Current overall order books and production expectations for the coming months contributed largely to the positive change,” Cefic said.
“Confidence in the chemicals industry in October is much closer to the long-term average. Capacity utilisation in the EU chemicals industry increased from 78.1% in second quarter 2013 to 79.2% in the third,” it added.
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