Entries from Asian Chemical Connections tagged with 'China economy'
Naphtha Highest Level For More Than A Year
Shelf-space to be in short supply again? Source of picture: www.zrdata.com ASIAN naphtha prices hit their highest level for more than a year yesterday - reaching $701/tonne CFR Japan for second-half December open-spec material on "improved market conditions". Earlier this...
Correction On China Economy Piece
I thought I would publish Michael Pettis's reply to my piece yesterday here rather than approve as a comment: Good piece but one correction. I don't think 8-9% growth this year and next is impossible. On the contrary, I...
China's consumption growth challenge
"China, please please do what we did and spend what you might not be able to afford..." Source of picture: The Daily Maily Whether or not China's pace of economic recovery will be maintained would have become an intensely boring...
The Philippines: Left With the Crumbs
"Here's your entire allocation for this month" Source of Picture: Adammakwright.wordpress In the words of a plastics converter from the Philippines: "Markets are so tight at the moment that we are left to pick up the crumbs. Suppliers are concentrating...
Even China Polyester Rates Rise
Source of Picture: ChinaMonthlyReview.Org Polyester operating rates in China have started to rise on anticipation that the global economic recovery has arrived, according to Leonard DeGuzman, chemicals consultant with DeWitt & Co. Is this another example of a dangerous...
What I Want To Know in H2 - Part Two
Garbage out, garbage in Source of Picture: The Daily Telegraph Here goes for the second part of this series. Is there anybody out there who can help? How will the ongoing availability of recycled material affect the pricing power of...
Excessive Confidence A Risk
Confidence along all the chemicals value chains is always a key issue because of the ability to aggressively manage inventories, according to the London-based chemicals analyst Paul Satchell. So there's the ever-present risk of sudden and very disruptive de-stocking....
Reports of the death of US PP exaggerated
"Reports of my death are greatly exaggerated," Mark Twain once famously said after his obituary was published before he had died. Similarly, the US polypropylene (PP) industry had been virtually written off late last year after a calamitous collapse...
PTA futures growing in influence?
Source of picture: 1st-commoditytrading.us It's only one comment from one consultant, but this is what he said today about the growing role of the Zhenghou Commodity Exchange's purified terephthalic acid (PTA) futures contract. "PTA futures have been exerting a...
Can what made the US sick make China well?
It seems ironic that in the crazy scramble to protect itself from the consequences of the US collapse of the US debt-growth model, China has headed down the same path. As my fellow blogger Paul Hodges pointed out last Friday,...
China's commodity stockpile gamble
Source of Picture: Australiannews.com In this article in the South China Morning Post (you can register for free for 14 days if you are not already a subscriber) Michael Pettis makes the argument that China is taking a big...
What I Want to Know in H2 - Part One
How will this one run? Source of Picture: chemicals-technology.com In the 12 years I've been covering the chemicals industry I don't think I have come across a time of such exceptional market muddle. The traders love it. As a wise...
Chemicals company H2 complacency?
Chemical companies as a whole displayed "dangerously complacent" views about second-half 2009 prospects when they released their Q2 results late last week, argues chemicals analyst Paul Satchell in his blog. "They believe that demand has bottomed. Although they can't...
China polyethylene inventories are high
A Mars Bar feast in store if crude hits $30/bbl again Source of Picture: Amazon.com Polyethylene (PE) inventories in China at the second and third local distributor levels are at very high levels, two...
Asia Polyolefins: "Bloodbath" Postponed
Source of Picture : purchasing.com In his own words, here is how one contact describes the current situation with a couple of extra points added by yours truly (with links) "We've seen arbitrage close from Europe on polyolefins with...
Where is the real demand recovery?
Have you ever been away on holiday and have cut yourself off from from work, only to return and find that nothing has changed? So it seems in polyolefin markets. As this blog has been writing about for several...
Back to the Serious Stuff: Fitch issues China warning
As I've been warning on this blog for some time, the explosion of credit in China has created a great deal of paper-bottomed optimism over the recovery. Fitch, the ratings agency, has just raised its macro-prudential risk indicator ffor...
Do you need a Joseph Kennedy moment?
Referring to the famous story about how Joseph Kennedy sold his shares on the eve of the Wall Street Crash after being given investment tips by a shoe-shine boy, my answer to the above is a definitive YES. Over...
The China Recovery Conundrum
eutsche Bank, Wall Street Journal, New York Times, China economy, China Q1 growth, China Q1
How dependent is Chinese growth on the US?
According to this article from The Economist, total China exports account for less than 10% of China's GDP when "value add" is stripped out - much less than the headline 40% figure for 2007, which includes imported and domestic inputs....
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