Global June chem production rises with gains in most segments, regions

26 July 2018 16:13 Source:ICIS News

VARIOUSHOUSTON (ICIS)--Global chemical production rose by 0.4% in June from May, the American Chemistry Council (ACC) said in its latest Global Chemical Production Regional Index (CPRI).

The increase marked the third consecutive month of gains, following drops in the first quarter.

Year on year, the Global CPRI in June rose by 0.7% on a three month moving average (3MMA).

June capacity utilisation was 84.5%, up by 0.1 percentage point from May. However, this was down from 86.2% in June 2017.

“Among chemical industry segments, June results were good on a product basis with gains in across-the-board with the only weakness in plastic resins,” the report said.

“Considering year earlier comparisons, growth was strongest in plastic resins, followed by bulk petrochemicals and organics, coatings, and other specialty chemicals."

By region, June chemical production in North America rose by 0.4% month on month, with gains in the US, Canada and Mexico.

Latin America production was flat, with Venezuela particularly weak.

June chemical production in Europe rose by 0.4% month on month, with gains in nearly all countries.

Asia production rose by 0.3% month on month, led by gains in China.

The Global CPRI measures the production volume of the business of chemistry for 33 key nations, sub-regions and regions, all aggregated to the world total. The index is comparable to the US' Federal Reserve Board production indices.

Pictured: A petrochemical plant in the UK
Source: Travel Pix/Robert Harding/REX/Shutterstock

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