Insights from LyondellBasell and BASF

Recent comments from LyondellBasell’s COO, and BASF’s CEO, seem worth highlighting as we come to the end of the results season.Dineen.jpg

Ed Dineen noted that China’s polyethylene demand seems partly linked to changes in crude oil pricing, “It turned down somewhat as we saw crude retreat a little, but as crude turned back up toward $80/bbl, we saw the Chinese market react strongly to that”.

Hambrecht.jpgSecondly, Jurgen Hambrecht worried that although “business had stabilised at a low level“, “little attention was being paid to structural overcapacities“.

Hambrecht also warned that “the effects of stimulus packages are starting to peter out, many companies are dealing with financing problems, the number of bankruptcies is increasing and unemployment is rising“.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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