….again By John Richardson THE sharp fall in polyethylene (PE) pricing in China is being blamed on speculative acquisition of cargoes by traders in March and a rise in local production. Apparent consumption (imports plus local production) is reported to have surged to 1.7m tonnes in March and 1.5m tonnes in April compared 1.3m tonnes […]
Asian Chemical Connections
Chemicals Growth Story Gets More Complicated
A Velozzi plug-in hybrid Source of picture: www.zerauto.nl.blog By John Richardson Doom-mongers are claiming the end is nigh with the world heading for a double-dip recession. This is happening at the same as the optimists are talking of the world entering a new sunny upland of sustained exceptionally strong emerging-market growth, which will more-than […]
China PE, PP Weakness Set To Continue
Europe and China: A two-tier market is hard to bear… Source of picture: blog.pinkcakebox By John Richardson CHINA’S polyolefin pricing is likely to remain under downward pressure over the next few months as a result of a persistent inventory overhang, new supply and weak construction and auto markets, two traders and one producer have […]
BMS Plans New Asia Polycarbonate
By John Richardson Bayer Material Science (BMS) has announced plans for a new polycarbonate ((PC) plant in Asia in another sign of confidence that the chemicals industry, despite major macro-economic threats, is continuing to benefit from the continent’s soaring growth. BMS will make a decision on whether to build a new polycarbonate plant either […]
Shale Gas Confronts BP Oil Disaster Threat
Deepwater disaster expected to impact shale gas Source of picture: Minnpost.com By John Richardson THE booming shale-gas industry could either benefit or suffer from the BP Gulf of Mexico oil-well disaster, with the end-result determined by the effect on energy prices of any long-term clampdown on deepwater and Arctic drilling. Those for and […]
Being Miserable As A Profession
Never look on the bright side of life… Source of picture: thescratchingshed.com By John Richardson – fresh back from a long break in Europe (more on this later). “If you keep predicting a catastrophe, John, you will eventually be proved right,” a senior executive from a major Asian petrochemicals producer told me in mid-2007. At […]
Crisis of confidence
By Malini Hariharan Asian polyolefins (PO) producers are seeing no signs of an immediate recovery in demand and pricing as buyers in the key China market continue to remain on the sidelines. There are just too many negative factors, says one producer referring to concerns about the economic health of Europe, the Chinese government’s efforts […]
China’s rising labour costs – a blessing in disguise?
By Malini Hariharan With so much happening in petrochemical markets the blog has not had time to comment on the ongoing turmoil in China’s labour market. But we had noted a few months back that factories in southern China were experiencing labour shortages and preparing to pay more as minimum wages in Guangdong province had […]
Fall in futures leads physical markets
By Malini Hariharan The weakness in Asian petrochemical markets is continuing with buyers taking cues from developments in the crude oil and stock markets. In polymers, despite a slight rebound in polyethylene (PE) prices late last week the buying sentiment remained negative in China. The mood worsened today following a 5% fall in linear-low density […]
Aromatics get complicated
By Malini Hariharan Asian aromatics markets are getting increasingly hard to read not merely because of volatile crude prices. Demand, usually strong at this time of the year, has so far failed to materialise. The US gasoline season has started on a slow note. In Asia, benzene demand has been hit by maintenance shutdowns and […]
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