PODCAST: Sliding fundamentals could reshape global chemicals production

LONDON (ICIS)–Although summer in the northern hemisphere draws to a close, the typical swing in seasonal demand has not returned for September, and the global chemicals industry faces a challenging close of 2022.

• Nordstream 1 remains offline, leaving European producers with limited gas supplies to fuel manufacturing for the rest of the year
• Feedstock chemicals September contract settlements fall, impacting downstream chemicals
• Polyolefins prices in China have also declined in line with the country’s zero-COVID-19 policy
• The nosedive in demand could stimulate a change in consumer spending habits
• Manufacturers in the chemicals industry may pivot to provide services rather than products to cater to shifting demand habits, boosting sustainability initiatives

In this Think Tank podcast, Morgan Condon talks to ICIS Senior Consultant Asia John Richardson, Insight Editor Nigel Davis and Chairman of New Normal Consulting Paul Hodges.