The collective sigh of relief was almost audible late last week when the Fed cut its discount rate – the rate banks charge each other for lending. Action from other central banks, including the European Central Bank, could follow this week. Analysts also rate the likelihood of the Fed cutting its formal interest rate at […]
Asian Chemical Connections
China’s crackers are on track. Is this bad news?
The consultants, traders and producers I spoke to last week insist that the current wave of new Chinese ethylene capacity due on stream in the current Five-Year Plan (2006-10), Download file is more or less on track to be completed on schedule. Also see on these slides the ICIS insight Asia list of crackers after […]
Capacity build-up to force volumes west…even from Asia?
There’s been a lot of talk about the next wave of Middle East capacity being too great for Asia to absorb all the Asian volumes. Indeed, estimates abound over western growth being satisfied by the M-E over the next 3-5 years. But here’s a thought: what if China’s capacity build-up leads producers elsewhere in Asia […]
Liveris defends strategy after a very tough few weeks
Imagine having to sack two of your senior management team after unauthorised takeover discussions. And then imagine just a few weeks later being forced to announce a 20% reduction in first quarter earnings. Andrew Liveris, Dow CEO (continuing our Dow theme – see below), is having a hard time of it. Mind you, life is […]
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