Europe propylene chain sentiment down sharply – July CMCI
Graeme Paterson
27-Jul-2016
LONDON (ICIS)–Sentiment in the European propylene chain fell sharply this month with confidence down over current and future profitability, order book volumes and business conditions compared with the last year, analysis of the July ICIS Chemical Market Confidence Index (CMCI) showed on Wednesday.
The only positive movement in the index from June was
for expectations of future business conditions over the next
12 months.
Despite the widespread falls, the overall
index remained positive in all indicators apart from
current and future profitability.
July saw the first full CMCI conducted since the UK’s
vote to leave the EU, with the June data collected the week
of the vote, making it impossible to tell the impact until
now.
The overall Europe CMCI points
to a potential shift to a seller’s
market.
July propylene chain CMCI last three
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 indices 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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