The good news is that global chemical production (the blue diamond line) grew during H2 2009. At the end of H1 2009, it had been equal to the level at the start of 2006. The bad news is that as the chart shows (based on data kindly supplied by Kevin Swift at the American Chemistry […]
Tag Archives | China
The above chart presents an excellent snapshot of the development of Asia’s chemical industry over the past 20 years. It comes from the American Chemistry Council’s global production report, and shows volume growth in each country/region, with a base of 100 in 2002. • China (blue line) has seen the largest growth over the past […]
The blog spent a fruitful afternoon last week, going through ICIS news reports of cracker start-ups in the Middle East and China. The chart above is the fruit of its labours, which shows that 4.8MT of ethylene capacity started up last year in the ME, and 2.1MT in China. Whilst latest estimates suggest that another […]
No wonder alarm bells were ringing in China’s central bank last week. The above chart (from China Daily) shows how total lending rebounded to $204bn in January, only 14% below the 2009 level. Total lending doubled during 2009 to $1.4bn, an astonishing amount for a country with total GDP of $4.3trn. Of course, this enabled […]
The European Union was the leading auto market in the world in 2009. It sold 14.4m, versus 13.6m in China and 10.4m in the USA. January has continued this promising trend, with volumes up 13% versus 2009. But it is likely to prove temporary, as government scrappage schemes end. This has already happened in the […]
Anti-dumping duties (ADDs) are on the rise, as countries seek to protect their own manufacturers. The most publicised ADDs so far, of course, were those by the US on Chinese tyres in September. In retaliation, China hit companies such as BASF with duties on US produced nylon 6. Separately, India imposed an ADD on caustic […]
One can only feel sorry for China’s government leaders. A year ago, they faced 23m unemployed, as their export markets collapsed in the West. In order to avoid major social unrest, they opted to unleash what the Wall Street Journal called “one of the biggest credit expansions in history“. $1.4trn was lent during 2009, in […]
The above chart, based on data from the excellent weekly American Chemistry Council report, highlights the changes in chemical production over the past year. November saw world production (black line) finally turn positive again versus the previous 12 months, for the first time since August 2008. For an industry used to steady growth in line […]
The US government used to depend on China to fund its deficit. In 2006, China bought 47.4% of all US bonds issued. But last year, as the chart from the NY Times shows, China bought just 4.6%, leaving US investors to buy the rest. This is a yet another indicator of the profound changes underway […]
Will Beacham of ICIS interviewed me yesterday in London’s Trafalgar Square. Please click above if you would like to see the discussion. Or click here if you would like to see Will’s summary on ICIS news.
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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 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.