PODCAST: Global chemical prices collapse, Europe prepares for dry summer, tough winter

Will Beacham

10-Aug-2022

BARCELONA (ICIS)–Global chemical prices are falling just as Europe braces itself for more summer heatwaves, drought and a winter of gas rationing.

  • Steep fall in chemical, polymer prices continues into August
  • Indicates falling downstream demand
  • Autumn monitored for demand pick up
  • All Asia prices fell in July’s ICIS Petrochemical Index (IPEX)
  • Prices in Europe move down towards Asia
  • Spreads at historical lows for Asian polyethylene (PE)
  • High inflation fuels demand destruction
  • European chemical companies face drought, high temperatures and gas rationing
  • Evonik to boost use of liquefied petroleum gas (LPG), cut natural gas
  • Large switch to LPG could distort trade flows
  • Industry must prepare for possible shut downs in winter

In this Think Tank podcast, Will Beacham interviews ICIS Insight Editor Nigel Davis, ICIS senior consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.

Click here to listen to the podcast

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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