The blog has learnt to be sceptical when new political leaders announce new directions for their country, after winning elections. But its Japanese friends emphasised at EPCA that real change might be taking place in Japan, after 50 years of LDP government. This, of course, could have a major impact on Asian politics. Japan is […]
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China will pump loans worth $1.3trn into its economy this year, equal to 1/3rd of GDP. Equally, by tying the yuan to the US$, China has achieved a major devaluation against major currencies such as the euro. The result has been that China’s Q3 GDP rose less in “nominal” terms than in “real” terms. Normally […]
9 months ago, the blog reported on the resilience being shown at the UK’s Wilton chemical site, one of the world’s largest. It noted that “the power of the teams being created there could be immense“. It is therefore delighted to see that the North East Process Industry Cluster (NEPIC) is now moving forward on […]
“Never in the field of financial endeavour has so much money been owed by so few to so many. And, one might add, so far with little real reform.” Bank of England Governor, Mervyn King, proposing that banks should be split up. He argues that high-risk trading activities should be split off from low-risk utility […]
Protectionism continues to build, as unemployment rises around the world. ICIS news reports China has imposed tariffs of up to 36% on nylon 6. BASF will suffer a 30.4% tariff on US exports, and Honeywell 36.2%. Last month, of course, the US hit China with a 35% tariff on tyres. The threat of more duty […]
The blog’s new Budget Outlook is an independent view of the key issues which will impact chemical sales and margins in 2010. Previous Outlooks have stimulated much debate within the industry. We are therefore proposing to run a free 1 hour Webinar next week for blog readers, on Thursday 29 October at 15:00 GMT (16:00 […]
2010 should be a better year for the chemical industry, as demand grows in line with a recovery in global GDP. But a quick V-shaped return to the 2003-7 Boom years in terms of volumes/margins seems unlikely. Governments will worry about budget deficits, and may well scale down support for critical end-uses such as autos […]
Our major Feedstocks for Profit Study last year foresaw difficult times ahead for European refiners. Now it seems this forecast by our partners, refining experts Wood Mackenzie, is coming true. Total, Europe’s largest refiner, today reported that European refining margins fell 85% in Q3, to just $6.60/bbl, the lowest level for 7 years. And they […]
The blog has argued for some time that the chemical industry is facing a “new normal” as growth returns to the economy. Now US Federal Reserve Governor Dan Tarullo has helpfully spelt out some important changes that he expects to occur. He notes that: • “Just about everyone understands we will never return to the […]
The blog is now preparing its annual Budget Outlook for 2010. Before this is published next weekend, it makes sense to assess the blog’s credibility by looking back at last year’s Outlook, to see how well it performed. Past performance may not be a perfect guide to future outcomes. But it is one of the […]
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Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such as oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. 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.