Source of picture: www.turkeytravel.com By John Richardson THE economic crisis continues to force the global chemicals industry to think on its feet due to, among many other things, persistently tight credit in some regions. China has also become even more of an important market with every rumour and counter-rumour about levels of demand there […]
Asian Chemical Connections
SEA Chemicals Need To Learn From The Past
By John Richardson THE whinging is getting almost unbearable in Southeast Asia over the Asean-China Free-Trade Agreement (ACFTA). The deal was under discussion for EIGHT years and yet chemicals and polymer producers and customers seem to have left it until after-the-fact to start raising objections. Indonesian industry association representatives have gone as far as to […]
China – An Opportunity And Threat
Source of picture: Dachangplastic.com By John Richardson WHAT a difference ten years have made in the plastics processing industry, according to a Southeast Asian converter who sees China’s machinery=manufacturing prowess as an opportunity and threat. “Ten years ago I considered buying a process machine from the US for $300,000 but it was just […]
Asia’s Polyester Producers Get Greedy
By John Richardson THE current glum mood in the Asian fibre intermediates chain is in stark contrast to the optimism in polyolefin and other petrochemical markets. A broad-based price rally has occurred following the end of the Chinese New Year (CNY) holidays belying fears, for the time being at least, that China’s credit tightening will […]
Jurgen Talks A lot Of Sense
Source of picture: http://www.referenceforbusiness.com/ By John Richardson GROWTH in Europe isn’t going to return to 2008 levels before 2012, said BASF CEO Jurgen Hambrecht on the release of the German diversified chemical giant’s financial results for last year.“ Overall, there are no signs of a self-sustaining, long-term recovery. We are still […]
THE US: Recovery, What Recovery?
Source of picture: http://www.infiniteunknown.net/ By John Richardson CORE consumer prices in the US declined for the first time in December since 1982, according to the latest American Chemistry Council (ACC) Weekl;y Chemistry and Economic Trends report. And the ACC’s latest monthly set of forecasts – compiled through averaging the predictions of “a […]
The Dangers of Forgetfulness
By John Richardson “IF YOU want to develop a good memory, you should learn to stop xxxxxxx forgetting, you brain-dead idiot” a former editor of mine often said, in his charming Glaswegian accent, after I had made the same mistake yet again. The same might apply to petrochemicals where maybe, just maybe, shutting down capacity […]
Asian Aromatics Crawl Towards Post-Chinese New Year
A roar or a whimper? Source of picture: http://break4fun.zarke.net By John Richardson THE ASIAN aromatics market has had “both its legs chopped off below the knees, and has also had its proverbial hands broken,” said an Asian-based petrochemicals consultant today. “As a result, we are crawling in a great deal of pain towards what […]
China Polyolefin Inventories Surge
A post-Chinese New Year dream…. Source of picture: http://www.scsa.net.au/ By John Richardson The large amount of polyolefins delivered to China over the past few months is causing further head-scratching and anxiety among producers and traders. One view, well rehearsed previously on this blog, is that this is further evidence of a speculative bubble […]
Douple-dip Appears To Have Begun
By John Richardson The start of the next dip in what this blog has long thought would be a double-dip economic crisis looks as if it could have begun. If not now, it’s going to happen at some point because of major global imbalances. What’s worrying right now is the combination of: *Potentially weaker demand […]
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