Europe aromatics chain confidence weaker in June – CMCI

LONDON (ICIS)–Sentiment in the European aromatics chain was mostly down in June from the previous month, analysis of the ICIS Europe Chemicals Market Confidence Index (CMCI) showed on Thursday.

Only one of the indicators, current business conditions, moved up from May. The sharpest decline was in future business conditions, which moved into negative territory in June from a comfortably positive index position in May. 

Current and future order book volumes also fell, though stayed positive in the index, as did current and future profitability, which both declined significantly.

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