Asian Chemical Connections
As China’s government attempts to rein in spiralling levels of personal and corporate debt by tightening credit limits in the official and shadow banking sector, chemical producers in Asia are feeling the pinch.
As manufacturers – used to easy credit conditions – struggle to finance or refinance their debt requirements, activity is slowing, and demand for chemicals is declining. Add to that the ramp up in China capacity expected this year and the outlook appears weak in many products.
INSIGHT: Lower oil price hits major petchems but stimulates demand
"We have a curious but perhaps not atypical situation in Europe currently."
VIDEO: ICIS special report - impact of lower crude oil prices