By John Richardson IF China’s decade-long focus on coal-fuelled heavy industry is really coming to an end, as this article in The Sydney Morning Herald suggests, then the prospects for further approvals of coal-to-olefins (CTO) projects seem very bleak indeed. “In the first 12 years of this millennium, China increased annual coal use by a […]
Asian Chemical Connections
Sinopec A Litmus Test For Reform
By John Richardson CHINA’s new leaders are under increasing pressure to do something about the dreadful pollution that blights the lives of hundreds of millions of people. One Shanghai resident told the blog, “The air quality is so bad here I have taken up smoking again. I figured that as my health was already in […]
Consensus Confidence For 2013
By John Richardson THE consensus view is that Chinese growth will be fine at the very least for the first half of this year, and possibly for the whole of 2013, thanks to all the money still sloshing around the economy. An additional $19.1bn of infrastructure spending, which was announced by Beijing earlier this week, is a […]
PTA Price Decline Reflects Realities
By John Richardson The end of the eight-week long bull-run in China’s purified terephthalic acid (PTA) pricing might well indicate a wider problem about to beset other petrochemicals: Reality undermining the positive sentiment of the early part of this year. “PTA prices surged by 10% from early November to early January, mainly led by a […]
China And The WTO Ten Years On
By John Richardson TEN years ago this weekend China officially joined the World Trade Organisation (WTO), and so no doubt numerous speeches have been given about all the benefits to the global economy. Here is a somewhat more negative perspective: *As the diagram above seeks to illustrate, China hugely built-up its manufacturing industry to take advantage of Western […]
Is the last margin grab over?
Shortly after I wrote this article (see below) on the doom and gloom surrounding China polyolefins markets, hey presto, prices rallied and I was wondering whether I needed to be wiping egg off my face. But shortly after the slight rally occurred, a polyolefins trade told me it was likely to be the last margin […]
Will the next World War be over water?
Please read this – http://www.nytimes.com/2007/09/28/world/asia/28water.html?_r=1&pagewanted=all&oref=slogin Don’t worry, just keep concentrating on the short term – after all, all you have to do is keep your boss happy and make it through to retirement with loads of money in the bank. Or let’s assume you are worried. What can the chemicals industry do to address this […]
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