Tag Archives | Europe

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European ethylene at 82% operating rate in 2010

European operating rates (OR%) for ethylene averaged just 82% in 2010, according to APPE data this week. This meant there was no improvement over H1 OR%, suggesting the recovery from 2009′s 76% OR% has stalled. Of course, in terms of profitability, 2010 will have been a great year. The industry did its usual excellent job […]

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Asian demand key to global chemical outlook

As promised last week, the blog has undertaken its usual 6 monthly analysis of global chemical production, excluding pharma, by major region. The data comes from the comprehensive American Chemistry Council (ACC) report. It shows global production (blue diamonds) was 4% above the previous peak in H1 2008. But there is a considerable variation in […]

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Ineos’ Antwerp ethylene terminal a game-changer for Europe’s C2 business

In business, as in war, defence can often be the best form of attack. This seems to be the principle behind Ineos’s announcement that they intend to build a 1 million tonne deep-sea ethylene terminal to feed their 340KT ethylene oxide/glycol business near Antwerp, Belgium. The glycol business is clearly under threat from the massive […]

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Global chemical output returns to growth

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 […]

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Auto suppliers face difficult time as bankruptcies rise

The decline in auto sales is now threatening many industry suppliers around the world: • Today, the main Japanese car parts group has warned that “Toyota’s production cuts will cause bankruptcies among suppliers if the government restricts aid to large manufacturers”. • Last month, the main US associations requested $18.5bn in support from the Obama […]

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Global chemical growth slows

The latest American Chemistry Council report on global production growth makes sombre reading for anyone outside the Middle East: • Global growth (dark green) is now only 1.4%, versus 4.1% in January • N American growth (dark blue) declined by 2.4% in August • European growth (light green) was down 1.5% in July • Central/Eastern […]

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Auto sales fall around the world

August was a bad month for US auto sales. GM sales were down 20% versus 2007, Toyota down 9%, Ford down 26% and Chrysler fell 35%. This set the blog wondering about relative performance , and the chart shows the result. 2007 wasn’t a great year, with only Toyota (the red column) showing a sales […]

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The end of ‘stretch targets’

There is little doubt that chemical growth is weakening. The above chart, taken from Kevin Swift’s excellent weekly report for the American Chemistry Council, indicates that a serious downturn is underway.

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Chemicals & the Economy – the first 6 months

It is now almost 6 months since I started writing this blog. And I thought you might like some feedback on how it is developing. As you can see from the green-shading on the map, it is now read in almost all of the major chemical producing/consuming areas. A high proportion of readers bookmark the […]

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Regional markets at price parity again

An interesting thing has happened to benzene markets, which I haven’t seen noted elsewhere. According to ICIS pricing, average prices last week in Europe, US Gulf and Asia were $1053/t, $1052/t and $1040/t respectively. Compare that with a year ago. Then, Europe was at $1220/t, USG at $1135/t and Asia at $1010/t. So we have […]

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