Tag Archives | USA

Global autos Oct11.png

China’s subsidy end boosts September’s auto sales

Auto sales in the key global markets of China, USA and Europe present a mixed picture as we look towards year-end (red square): • China had a strong September, and sales are now up 6% versus 2010 • But the Auto Association claimed this was due to a last minute rush of orders caused by […]

Continue Reading
Global autos Sept11.png

US, China, EU auto sales stall

Auto sales in the world’s 3 main markets (China, USA, EU), saw much slower growth in the past 3 months. The chart above shows how they have moved in 2011 (red square) versus previous years. It is clear that the stimulus-led boom seen since 2009 has come to an end: • Overall, sales in the […]

Continue Reading
All autos Jul11.png

Auto sales face weaker H2

This week’s special blog series has focused on auto markets, a critical source of chemical demand. Today, it concludes by summarising developments in China, USA, EU, which account for ~55% of global sales. They have moved in different directions since the Great Recession began: • China’s volumes soared in 2009-10 • The USA has fallen […]

Continue Reading
C2 Apr11.png

Ethylene derivative imports threaten European markets

The chart above is a flashing amber light for European cracker operators. Based on ICIS Pricing data, it shows the delta between (a) European and US ethylene contract prices (blue line), and (b) Europe and the North East Asian spot price (red line). Usually, these deltas range between -$50/t and $100/t. H2 2008 was clearly […]

Continue Reading
Index Apr11.png

Boom/Gloom index signals rising austerity

Q1 was a very strong quarter for Western companies operating at the upstream end of the chemicals value chain: • Plants were generally operating well, with few force majeures • Most importantly, the crude oil price jumped 20%. Many buyers had reduced inventory in December for working capital reasons. Then they found they had to […]

Continue Reading
LeadIndic Feb11.png

OECD indicators signal slower growth

The OECD’s leading indicators for the global economy suggest that GDP growth is continuing to slow. As the above chart from the American Chemistry Council shows, the OECD’s three key indicators have all slipped from H1 2010′s peaks. The composite indicator (blue) has fallen sharply to +5% from +13%, whilst industrial production (red) is down […]

Continue Reading
EU autos Feb11.png

Europe sees 2-speed performance on auto sales

The blog is changing its chart for EU auto sales. The aim is to better show seasonal trends, and also enable easy comparison with US sales. It now shows sales by month, since 2005. Performance in 2007 (green line) and 2010 (brown) is highlighted, as this represents the peaks and troughs. January’s 1 million sales […]

Continue Reading
China PE imports Jan11.png

China’s PE imports slip: Middle East gains market share

China has been the main source of chemical and polymer demand growth over the past 2 years. But newly released trade data suggests its import volume on core products such as polyethylene may now be reducing, as more domestic capacity comes online. Equally, Asian producers, and the USA, face strong competition from low-cost Middle East […]

Continue Reading
G-20.jpg

G-20 delivers “platitudes” as Obama hits at China

The blog has a simple measure for the effectiveness of international meetings. It counts the number of words in the communiqué. The logic behind this is that when people are really focused, they get down to business. When they waffle, then you know nothing will happen. The history of the recent G-20 meetings seems to […]

Continue Reading
ACC chemdataOct10.png

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 […]

Continue Reading