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EU chemicals output in July down slightly year on year - Cefic

ICIS News : 4-Oct-13 14:29

LONDON (ICIS)--EU chemicals output in July fell by 0.4% 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 dropped by 1.3% and 1.5% respectively compared with July 2012. This fall more than offset output growth of polymers and consumer chemicals, which grew by 1.4% and 1.1% respectively in July.

Petrochemicals output also rose in July 2013 for the third consecutive month since May 2013, registering a 0.6% increase on July 2012, Brussels-based Cefic said.

During the first seven months of 2013, total EU chemicals sector output went down by 1.4% year on year.

Also in the report Cefic said EU monthly prices of chemicals and plastics in July 2013 went up by 0.4% and 2.1% respectively compared to July 2012. During the first seven months of 2013 compared to the same period in 2012, EU chemicals producer prices were 0.2%, it added.

Meanwhile, the EU chemical industry confidence indicator (CCI), generated by Cefic, shows confidence in the chemical industry in August significantly improved compared with July.

“Current overall order books contributed largely to this positive change. However, production expectations for the coming months deteriorated slightly, Cefic said.

“Confidence in the chemicals industry remains below the long-term average. Nevertheless, the capacity utilisation in the EU chemicals industry increased from 77.9% in the first quarter of 2013 to 78.1% in the second quarter,” it added.

By Franco Capaldo
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