Dear Readers – here is, hopefully, a hand summary of some of the key themes that have emerged over the past two weeks with some important additional data on imports and inventory levels in China – plus a rather unscientific industry confidence survey. By John Richardson The mood seems to have changed since the […]
Asian Chemical Connections
German World Cup Win And A Double-Dip Recession?
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 […]
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 […]
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 […]
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 […]
Old Assumptions Might Belatedly Change
Source of picture: http://www.andrewgriffithsblog.com/ By John Richardson DOOM-MONGERS are scratching their heads as to why the global petrochemicals industry has remained in such a healthy state over the past 18 months. Old assumptions are, as a result, being challenged. It would be a painful irony if these assumptions are changed just as a […]
End-users Acting As Traders Influence China PE Price Correction
By John Richardson LAST week’s sharp decline in polyethylene (PE) pricing in China is being partly blamed on converters who occasionally act as traders liquidating their raw-material inventories. Trading activity by end-users can account for more than 10% of total sales activity in the Chinese market in any one week, the blog has previously been […]
Total Petrochemicals Makes Big MTO Progress
A Chinese coalminer Source: www.guardian.co.uk Over the next week, as well as keeping track of more immediat events, we will be reviewing and analysing what was said in and around last week’s Asia Petrochemical Industry Conference (APIC) in Mumbai. One of the most-interesting stories to emerge was a clear message from close to Total […]
APIC Confidence A Dangerous Thing?
Mumbai at night Source of picture: travelygan.wordpress.com By John Richardson in Mumbai POLYOLEFINS will not see a margin collapse this year due to persistently strong demand growth and continued problems with new-capacity start-ups, said numerous industry sources on the sidelines of the Asia Petrochemical Industry Conference (APIC) in Mumbai. The belief seems […]
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