Entries from Asian Chemical Connections tagged with 'eurozone economy'
Oil Prices Fall, As We Warned
Source: Daily Forex By John Richardson WE warned on 4 April that real economics threatened a sharp correction in crude-oil prices and it now appears to be happening. "New York's main contract, West Texas Intermediate for May delivery,...
The Real Economies Set To Dominate Q2
By John Richardson Sometimes a picture is worth many thousands of words. The above chart, supplied by one of the blog's resources analyst contacts in Perth, Western Australia, neatly illustrates the dangerous divergence between real ecoomies and financial markets. As...
Innovation: No More Time Left To Lose
Source of picture: http://whyfiles.org/ By John Richardson MY colleague Nigel Davis has written an excellent Insight article which highlights how some chemicals companies are seeking to respond to changing patterns. As we have discussed before, Bayer Material Science...
HSBC: China 2013 Polyethylene Market Has Peaked
By John Richardson A NEW report from HSBC backs up our concerns that the post-Chinese New Year polyethylene (PE) will be weaker than in December-January. The bank is with us in thinking that the stronger markets over the last two...
China SMEs Under More Strain
Source of picture: Rex Features By John Richardson WE are worried that the recovery in Asia's chemicals and polymer markets may not be sustained. One of our biggest concerns is that China's small and medium-sized enterprises (SMEs), which...
China Credit, Commodities Bubble
By John Richardson China announced last week that its state-owned banks had lent Rmb1.07 trillion ($172m) in January, which was more than double the amount in December. Financial markets have taken as evidence that the economic recovery has gained momentum....
Nothing Has Changed In Japan
By John Richardson THE Nikkei Index has risen by more than 30% since November (see the chart below). Earlier this week, the Nikkei was at its highest level since September 2008. Global stock markets are, in general, of...
PTA Price Decline Reflects Realities
By John Richardson The end of the eight-week long bull-run in China's purified terephthalic acid (PTA) pricing might well indicate a wider problem about to beset other petrochemicals: Reality undermining the positive sentiment of the early part of this...
Labour Supply After Chinese New Year
Chinese job seekers at a recruitment fair Imaginechina/Rex Features By John Richardson As petrochemicals markets begin to slow down ahead of the Chinese New Year, which this year falls on 10 February, a lot of attention is, as always,...
China Polyolefins Recovery Continues.....
.....For Now By John Richardson RELATIVE to most of 2012 - when China's polyolefins market was in dire straits - November, December and early January have been excellent for traders who took the right positions. At least one producer...
"You Can't Turn Back The Demographic Tide"
By John Richardson Our argument ument that demographics drive demand is gaining greater traction. Demographic challenges apply both to developed markets, where populations are rapidly ageing, and to emerging markets such as China, which confronts ithe consequences of...
China's Two-Speed Recovery
By John Richardson CHINA appears to be in the midst of a two-speed recovery as a result of stronger domestic growth, while the export environment remains very bleak. "Our polyethylene (PE) sales to converters who sell into the domestic market...
New Business Mindset Needed
By John Richardson THE global chemicals industry became used to healthy and steady rates of demand growth during the "Great Moderation" in the West, before the 2008 crisis. As fellow blogger Paul Hodges wrote in January of this year:...
The BRICS Fallacy
By John Richardson THE above chart, from a new Research Note released by fellow blogger Paul Hodges, exposes the fallacy that BRICS and emerging-market growth can by themselves rescue the global economy. And, as we have highlighted before on this blog,...
World Heading For L-Shaped Recovery
Mr Bernanke, please take note By John Richardson The recovery is always six months away and so while most people have written-off the first half of next year, the hope is that by H2 everything will be back to normal....
Dow and DuPont Make Major Job Cuts
Dupont's Ellen Kullman By John Richardson Dow Chemical's decision to cut 2,400 jobs, as it posted a 32% drop in earnings per share, was the result of what CEO Andrew Liveris said was difficult conditions that "may have...
No Eurozone Miracle Cure
Source of picture: Wikipedia By John Richardson THE eurozone hasn't been rescued by the programme of sovereign bond purchases, announced a month ago by Mario Draghi. Wolfgang Munchau, in this excellent article in the Financial Times, explains why....
The End Of Growth
By John Richardson OUR e-book, Boom Gloom & The New Normal, is a set of ideas meant to challenge conventional wisdom. Some of our ideas will need to be adapted and discarded. But our essential point is that the New Normal...
No More Of This...
By John Richardson THE big hope is that once China returns from its National Holidays (1-7 October), petrochemicals markets will enjoy a big and sustainable recovery. It is not going to happen. Throughout this year, the hope has been that the...
Managing European Volatility
By John Richardson THE blog was in Amsterdam this week for an ICIS training event involving delegates who were European chemicals and polymer buyers. They had one overriding question for us: "How on earth do we manage the extreme volatility...
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