Please, please not again… Source of picture: soccernet.espn.go.com By John Richardson The dreadful state of China’s polyethylene (PE) market will last for at least the next two months as a result of the overstocking we talked about earlier this week and poor demand, two polyolefin traders told the blog today. And […]
Asian Chemical Connections
Ethylene Margins Plunge On PE Rate Cuts
By John Richardson THE steep decline in Asian ethylene margins – detailed in the chart below from the ICIS pricing weekly margin report – seems to be largely the result of the worrying state of China’s polyethylene (PE) market, which we discussed yesterday. “The Saudis have reduced their PE operating rates, resulting in an […]
China PE Market Falls Prey To The Speculators…..
….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 […]
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 […]
US Needs A Serious, Informed Energy Debate
Will he back raising fuel prices to European levels? Source of picture: sociologycompass.wordpress.com By John Richardson IN the midst of the continuing BP oil-spill saga, here’s an important question for our American readers: Once the story is forgotten, meaning when it drops out of the 24-hour-news cycle, will you be willing to back tougher […]
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 […]
Petronas Restructuring Details Emerge
Petronas seeks to scale new heights Source of picture: www.mir.com By John Richardson MORE details have emerged concerning the major restructuring taking place at Petronas, the Malaysian state-owned oil, gas, refining and petrochemicals major. Vice-presidents have being appointed to head new downstream (refining and petrochemicals), upstream (exploration and production) and finance divisions, a source familiar […]
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 […]
China Chem Imports May Fall On Yuan Expectation
As cheap as chips Source of picture: europa.eu By John Richardson THE decline in the Euro has resulted in investors downgrading their expectations of a Yuan appreciation taking place over the next few months. Last week, Yuan foward contracts were factoring in a zero chance of appreciation over the next three months after […]
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