Plastics has long been the ‘odd one out’ in terms of recycling. Steel, aluminium, glass, cardboard, rubber and paper routinely have up to a 70% rate of recycling. But plastics has been stuck at around 10% for a long time. President Biden’s Earth Day Summit is likely to change this picture, and quickly. The reason […]
Chemicals and the Economy
Circular economy set to replace today’s broken global supply chains
The Great Freeze in Texas has confirmed once again the problems with today’s global supply chains. As the New York Times has highlighted: “The pandemic has disrupted every stage of the (supply chain) journey”. The problems began last year with the disruption to the global shipping container system. Millions of containers were used to ship […]
EU focuses on a sustainable and circular plastics system
“The challenges posed by plastics are to a large extent due to the fact that our production and consumption systems are not sustainable. “The COVID-19 pandemic and climate change have amplified public attention for the plastic waste crisis we face. “It is clear that the best way is to shift to a fundamentally sustainable and […]
China’s plastic ban and recycling launch marks end of ‘business as usual’ for plastics industry
Paradigm shifts start slowly at first, and it is easy to miss them. But then one day, they suddenly become obvious, and it becomes a scramble to catch up. That’s what happened on the waste plastic issue last week, when China decided to take action. As official news agency, Xinhua, reported: “The policy measures proposed […]
Contingency planning is essential in 2020 as “synchronised slowdown” continues
The IMF has now confirmed that the world economy has moved into the synchronised slowdown that I forecast here a year ago. Its analysis also confirms the importance of the issues highlighted then, including “rising trade barriers and increasing geopolitical tensions”, a sharp decline in manufacturing, contraction in the auto industry and structural forces such […]
Ethane price hikes, China tariffs, hit US PE producers as global market weakens
Sadly, my July forecast that US-China tariffs could lead to a global polyethylene price war seems to be coming true. As I have argued since March 2014 (US boom is a dangerous game), it was always going to be difficult for US producers to sell their vastly increased output. The expansions were of course delayed […]
US ethylene prices near all-time lows as over-capacity arrives
US ethylene spot prices are tumbling as the major new shale gas expansions come on line, as the chart based on ICIS pricing data confirms: They began the year at $617/t, but have since more than halved to $270/t on Friday They are only around 10% higher than their all-time low of $240/t in September […]
2018 will see Winners and Losers appear in plastics markets
Two major challenges face petrochemical and polymer producers and consumers in 2018: The likely disruption created by the arrival of the ethylene/polyethylene expansions in the US The growth of the circular economy and the need to dramatically increase recycling capacity My new interview with Will Beacham, deputy editor of ICIS Chemical Business, focuses on both […]
Hurricane Harvey: lack of insurance will hit Houston’s recovery
“By Monday, the third straight day of flooding, the aftermath of Hurricane Harvey had left much of the region underwater, and the city of Houston looked like a sea dotted by small islands. ‘This event is unprecedented,’ the National Weather Service tweeted. ‘All impacts are unknown and beyond anything experienced.’” This summary from the New […]
Trump, Xi have 100 days to avert US-China trade war
Last week’s summit meeting between US President Donald Trump and China’s President Xi Jinping was initially overshadowed by Friday’s news of US missile strikes on Syria. But from the details since released, it is clear the summit will likely have far-reaching impact on the global economy. As US Commerce Secretary Wilbur Ross revealed afterwards, the […]
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