BARCELONA (ICIS)--Although a post-lockdown rebound is boosting demand for chemicals, the industry is a long way from the pre-pandemic levels.
- Improving demand for chemicals, but
- Need to separate rebound from recovery
- Asia prices did rebound, but are under pressure over economic concerns
- Dangerous to assume rising oil prices indicate recovery
- Possibility of another oil price crash soon
- Future coal-to-chemicals expansions may not happen as based on high oil price assumptions
- Methanol-to-olefins and naphtha-based operators will be under more pressure
- No deal Brexit could see companies withdrawing from UK market
Listen to this podcast interview with Paul Hodges, chairman at consultancy International eChem, and ICIS Insight Editor Nigel Davis.