By John Richardson EARNINGS estimates for South Korean petrochemical companies will have to be cut by 50 percent for the full year 2012, said an industry observer. “It is quite clear that the first quarter was dreadful for the South Koreans and the second quarter will probably be even worse,” he added. There was a […]
Asian Chemical Connections
European Firms Assess China Exit
By John Richardson CHINA’S rising labour costs and a worsening regulatory environment had resulted in almost a quarter of European firms to consider relocating their activities elsewhere, said a survey by the EU Chamber of Commerce and Roland Berger Strategy Consultants. Twenty-two percent of 557 respondents said they may move investment to other developing economies, […]
Dow Sees China Growth Acceleration
By John Richardson DOW Chemical CEO Andrew Liveris said in an earnings call, following the release of the company’s Q1 results: “China is stabilising and growth is likely to accelerate later this year as their government keeps shifting its policies to inspire and incentivise domestic growth.” An industry observer agreed, and added: “I’m still sticking […]
Wen’s Last Reform Push
By John Richardson Wen Jiabao has been at it again. His extraordinarily strong comments on Tuesday follow those he made last month about the risks of a return to the economic chaos of the Cultural Revolution. On this latest occasion, he has taken aim at the state-owned banks. China’s premier, who is to relinquish power […]
Why Should Q2 Be Any Better?
By John Richardson THE question being asked during the first quarter of this year was, “Why shouldn’t Chinese chemicals demand come roaring back after a disappointing 2011?” The relevant question now, as we move into Q2, is, “Why should it come roaring back?” Chemicals analysts, and quite a few traders in products such as […]
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