By John Richardson ANYONE who has anything to do with the petrochemicals industry or anything to do with the global economy, in other words all of us, needs to pay close attention to the above chart and what it is telling us. This once again demonstrates the enormous value of the ICIS Supply & Demand […]
Asian Chemical Connections
Germany’s Long-term Economic Challenges
Source of graph: Eurostat By John Richardson AS delegates gather for this year’s European Petrochemical Association (EPCA) meeting in Berlin, which takes place on 5-9 October, it might be tempting to believe that Europe has turned the corner. Supporting this argument has been the release of lots of positive economy data recently. For example, […]
No Eurozone Miracle Cure
Source of picture: Wikipedia By John Richardson THE eurozone hasn’t been rescued by the programme of sovereign bond purchases, announced a month ago by Mario Draghi. Wolfgang Munchau, in this excellent article in the Financial Times, explains why. This article is worth printing out and pinning on your office wall as a reminder that […]
European Petchems: A Great Year For Some
By John Richardsn A brilliant seven months or a collapse in average profitability to its lowest level since end-2009 are two radically different takes on the fortunes of European petrochemicals so far this year. The description of a brilliant January-to-August was given to my colleague Nel Weddle, European olefins editor for ICIS pricing, by a […]
China’s Widespread Inventory Problem
By John Richardson THE extent of the inventory overhang in China has become more apparent thanks to a research note from Kunal Agrawal – Singapore-based refining and chemicals analyst with BNP Paribas. Kunal’s note – based on a survey of polyethylene (PE), acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC) and butadiene producers and traders – […]
China Tries To Transform Itself
By John Richardson CAN China succeed in transforming its economy from one which is over-reliant on exports to one where domestic consumption is a much bigger driver of growth? And how long will this process take and in the interim, can we expect a few years of lower GDP (gross domestic product) growth? As delegates […]
Chemical execs go long on realism
Offsetting the risk of being over-optimistic? Source of picture: thetradingpit.net MAYBE there should futures contracts in realism versus recklessness. That way any senior company executive who wants to take a punt on next year being better than 2009 can offset the risk by going “realistic” on the futures markets – and, of course, vice […]
The big challenges
As delegates gather for this year’s European Petrochemical Association meeting in the unreal world of Monaco (unreal for the 99.9 per cent recurring of us who don’t own Ferraris), I thought it was worth summarising some of the issues discussed on this blog over the last few months. We’ve dealt with: *Oil-price volatility and the […]
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