Europe benzene chain players less confident in June – CMCI

Mark Victory

30-Jun-2016

LONDON (ICIS)–Participants in the European benzene chemicals chain markets in June were mostly less confident than in the previous month, analysis of the ICIS Europe Chemicals Markets Confidence Index showed on Thursday.

The one exception was in current business conditions which showed a significant 39.8 point rise from May’s index, shifting from negative to positive. Conversely, future business conditions fell sharply, moving to a negative in June from a positive in May.       

CMCI benzene 2

Current and future order book volumes and profitability were all down with the steepest fall in profitability compared with the last 12 months.

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

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