Eurozone’s chems producer prices recover in October but remain 4.5% lower year on year

Author: Jonathan Lopez

2020/12/02

LONDON (ICIS)--Chemicals producer prices in the eurozone rose slightly in October month on month but remain well below their October 2019 levels, statistical office Eurostat said on Wednesday.

Chemicals producer prices in the 19-country currency union were in October 4.5% lower than a year prior, while in the wider 27-country EU, prices stood 4.4% lower.

The year-on-year decreases, however, have been narrowing since the falls they posted in May in the midst of European lockdowns to contain the spread of the pandemic.

The year-on-year falls stood in May at 9.4% in the eurozone, and at 9.0% in the EU.

The Netherlands’ posted sharp changes in year-on-year metrics, reflecting how the country’s chemicals facilities are key global logistical hubs, with product from several jurisdictions passing through.

Month on month (% change) October September August July Year on year (% change) October September August July
Eurozone 0.2 0.3 0.3 1.1 Eurozone -4.5 -5.0 -5.5 -5.9
Germany 0.2 0.5 0.4 0.6 Germany -2.5 -3.0 -3.4 -4.0
France 0.4 0.4 -0.3 -0.3 France -7.2 -7.9 -8.5 -8.3
Italy 0.0 0.0 0.3 1.0 Italy -1.3 -1.4 -1.8 -2.0
Spain -0.1 -0.2 0.0 1.7 Spain -3.7 -4.3 -4.4 -4.5
Netherlands 0.3 -0.1 0.2 5.1 Netherlands -14.8 -14.9 -16.6 -15.9
EU 0.2 0.3 0.3 1.1 EU -4.4 -4.9 -5.4 -5.7
Poland 0.3 0.6 -0.1 0.2 Poland -3.0 -3.7 -4.4 -4.0

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WIDER INDUSTRY
Chemicals prices rose in October month on month less than those in industry as a whole; Eurostat said industrial producer prices had gone up by 0.4% in the eurozone, compared with September, and by 0.3% in the EU.

At the same time, chemicals prices accumulate a larger year-on-year fall than average industrial producer prices in both the eurozone and the EU, down 0.2% in both areas compared with October 2019.

Front page picture: Shipping containers Port of Zeebrugge in Belgium
Source: Olivier Matthys/AP/Shutterstock