Today, the blog is proud to publish the first Chapter of its new eBook: ‘Boom, Gloom and the New Normal: how Western BabyBoomers are changing global chemical demand patterns, again’ It is co-authored with ICIS’ John Richardson of Asian Chemical Connections. A new chapter will be published each month. Please click here for Chapter 1. […]
Chemicals and the Economy
Downturn Alert shows prices keep falling
It is now 4 weeks since the blog launched its IeC Downturn Alert. Since then, as the chart shows (based on ICIS pricing reports): • Brent (blue dotted line) is down 11% • Naphtha (red) is down 13% in Europe • Benzene (green) is down 9% in Europe • HDPE export (purple) is down 7% […]
US housing starts disappoint, again
US housing used to be one of the largest chemical markets in the world. In 2006 it was worth $35bn, with 2.2 million new homes each using $16k of chemicals, according to American Chemistry Council (ACC) estimates. Yet as the chart above shows, it has completely failed to recover since the financial crisis began: • […]
The tide of European debt default keeps advancing
A thousand years ago, the Viking King Canute had himself carried into the sea by his courtiers. He was the most powerful king of his time. But by showing that he could not turn back the incoming waves, he hoped they would understand that he was not all-powerful. This is a lesson still to be […]
4 risks to petchem profits
Q1 results were very good. But do they mean we are in a SuperCycle, as some analysts have suggested? In a major 3 page article for this week’s ICIS Chemical Business, the blog looks in detail at the risk from developments in China, Japan, the debt crisis and high oil prices. It concludes that the […]
Time to check Downturn contingency plans
Two years ago, the blog began to survey global stock markets on what turned out to be the day they began their major rally. Its end-April launch of Downturn Alert may prove similarly fortuitous. Since then (shaded area), Brent crude oil is down 8%. Similarly naphtha is down 11%, benzene down 2%, HDPE 6% and […]
Boom, Gloom and the New Normal
The blog is delighted to announce the title of its new eBook, jointly authored with fellow blogger, John Richardson. It explains how Western BabyBoomers are changing chemical demand patterns, again. We believe it will become vital reading for all those working in the global chemical industry. The first chapter of the book will be published […]
Q1 results confirm impact of high oil prices
A month ago, the blog suggested that chemical companies would “report excellent results for Q1“. Its regular quarterly round-up, below, shows this expectation has been confirmed. The blog was also pleased to see Huntsman CEO, Peter Huntsman, warn about the growing risks from high oil prices, unemployment, and economic fragility. As it noted last month, […]
BASF warn on over-expansion and China
The blog was very interested to see a recent ICIS interview with Torsten Penkuhn, BASF’s petchem head in Asia, by Will Beacham. Penkuhn noted: “We are more and more concerned at BASF about an increasing risk of overbuilding once again. We currently see a risk that people are becoming too ambitious, enthusiastic and optimistic. And […]
China fines Unilever for soap price increases
There seems little doubt that China is increasingly worried by rising inflation. The latest sign is Unilever, the giant consumer products company, being fined $300k (RMB 2 million), for discussing plans to increase prices due to higher raw material costs. Those who can remember the US WIN (Whip Inflation Now) programme, or the UK’s Prices […]
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