European producers mirror broad chems industry’s uncertainty – CMCI

Niall Swan

26-Jan-2017

LONDON (ICIS)–Sentiment among producers in the European chemicals industry is quite mixed according to the latest data from ICIS’ Chemical Markets Confidence Index (CMCI) on Thursday.

CMCI Jan Producers(*Forward-looking data for December was for next 12 months, while from January onwards, forward-looking sentiment will be based on the next six months)

Confidence in current business conditions skyrocketed among producers in the European chemicals industry this month, increasing by 45 points month on month. However, confidence in the future remains pretty much flat when compared to last month’s CMCI.

Order book volumes is the only indicator in which confidence among European producers fell this month, with current order book volumes falling by 1.9 points. Confidence in future order book volumes took a huge hit this month, falling by 50.8 points.

Elsewhere, profitability, both current and future, are areas in which sentiment is on the rise among producers, as evidenced by the respective 28.1- and 12.8-point month-on-month increases.

The newly established ICIS Europe CMCI aggregates sentiment from hundreds of petrochemical market players actively involved in price negotiations across more than 60 different markets.

The Europe CMCI runs from +100, to -100, with zero on each index representing neutral, or uncertain conditions, a negative score indicating bearish expectations and a positive score representing bullish expectations. The indices also gather sentiment on the comparison between the current situation and the situation across the past 12 months to give a complete picture of current market conditions and confidence. The information is gathered in the third week of each month.  A full methodology is available on request.

For more details on the overall Europe CMCI data, click here

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