Source of graph: Standard Chartered By John Richardson WORKING conditions matter as much as higher salaries for China’s emboldened manufacturing workforce, according to this article in the Financial Times. “As the number of available workers falls, factories struggle not only to find new hires, but also retain existing staff. A young and educated workforce […]
Asian Chemical Connections
China’s Labour Complications
Source: Wang Feng, director of the Brookings-Tsinghua Center for Public Policy in Beijing, from an article published in the China Economic Quarterly. By John Richardson ONE of the explanations for China’s disappointing petrochemicals demand growth during 2012 is that even where export-focused factories in southern and eastern China can find sufficient orders to run […]
PE Margins Lowest On Record
By John Richardson ANOTHER week has gone by with no evidence of significantly stronger polyethylene (PE) volumes in China. Rising labour costs, because of mandated government increases in minimum wages, and the shortages of labour post-Lunar New Year, are still making it difficult for plastic converters to run at full capacity. The recovery in pricing […]
Europe Markets Lure Asian Polyolefins
By John Richardson EXACTLY the same scenario is playing out in European polyolefin markets, as in Latin America and possibly the US, my ICIS colleague Linda Naylor reported last Friday. High polyethylene (PE) and polypropylene (PP) prices in Europe have led to increased offers for re-exported material from China, according to Linda – our European […]
Pricing To Struggle For The Rest of 2012
By John Richardson Further confirmation of the themes we raised yesterday emerged from an interview with a senior polyolefin industry source, with some important new analysis. Profitability in Asia is the worst of any of the three regions, he told us, although volumes remain good. In the US, he characterised demand as “pretty reasonable”, but […]
China Polyolefins – A Bad Case Of Indigestion
By John Richardson IT IS always dangerous to assume that the future will be exactly the same as the past – a big lesson from the recent financial crisis. But so seems to have been the assumption amongst China’s polyolefin traders late last year as a close look at import statistics for December and January, […]
China Labour Shortage Threat To Chem Demand Grows
“Sorry, but there’s more to life – I really don’t want to do this anymore…” Source of picture: China Daily By John Richardson The labour shortage crisis in southern China – which one trader had claimed would last exactly ten days beyond the end of a recent polyolefins conference – is proving to be […]
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