Europe packaging chems pessimistic on business conditions – June CMCI

LONDON (ICIS)–European participants in chemical markets used in the packaging sector are much more pessimistic over current and future business conditions than they were in May, analysis of the June ICIS Chemical Market Confidence Index (CMCI) showed on Wednesday.

Players in these markets were also slightly more negative in June regarding current order book volumes and profitability compared with the last 12 months.

Future profitability took an optimistic turn however, swinging to a positive index rating in June from a negative last month.

There was also greater confidence displayed over future order book volumes this month with a significant rise in the index.

The packaging CMCI includes, bisphenol A (BPA), polycarbonate (PC), polyethylene terephthalate (PET), polystyrene (PS), polyvinyl chloride (PVC), paraffin wax (P-Wax) and recycled polyethylene terephthalate (R-PET).     

The newly established ICIS Europe CMCI aggregates sentiment from hundreds of petrochemical market players actively involved in price negotiations across more than 60 different markets.

The Europe CMCI runs from +100, to -100, with zero on each index representing neutral, or uncertain conditions, a negative score indicating bearish expectations and a positive score representing bullish expectations. The indexes also gather sentiment on the comparison between the current situation and the situation across the past 12 months to give a complete picture of current market conditions and confidence. The information is gathered in the third week of each month. A full methodology is available on request.

For more details on the overall Europe CMCI data, click here