Since the COVID-19 virus hit Europe in January, cases have been rising and while there was no immediate impact on the market, there were concerns and speculations of knock-on effects from China. However, in the past month, the situation in Europe, particularly South Europe has been deteriorating leading to the EU closing borders and several… Read More Effects of COVID-19 on the Caustic Soda Market
In the space of 11 weeks we have seen Brent crude oil prices fall from just under $70/bbl to $29/bbl. Lower crude oil prices are generally welcomed by the chemical industry, as not only feedstock costs but usually also energy costs are reduced. But a complicating factor is that the market balance between competitive products… Read More Cheap crude oil helps some chemicals more than others
As crude oil and all related markets fell with shocking speed in response to deepening fears over the impact of the COVID-19 pandemic, the maleic anhydride market struggled to keep up. Most buyers and sellers stayed away from the market, highlighting the difficulty in making decisions when events are changing so quickly. The market headed… Read More Maleic markets reel as feedstocks prices drop and demand falters
Today’s MEG scenario reflects the different and difficult dynamics that will continue to impact and shape markets in the coming months and years. All the expected, new glycol capacities – in the US through 2019, but also in early 2020 in China and Malaysia – have now started up and are operational. Lower demand due… Read More MEG Rationalisation Expected – But Where, When and How?
Global acetyls market participants were hoping for signs of stability in early 2020 following the ups-and-downs of the past two to three years, but there is not much of that on show almost two months into the new year. After dealing with frequent supply-side disruptions, including a number of force majeure declarations and other unplanned… Read More Acetyls markets still waiting for stability in early 2020
After a relatively flat year in 2019 what is to come for the orthoxylene and phthalic anhydride markets in 2020? 2019 was a stable yet difficult year for the global orthoxylene and phthalic anhydride markets. The US and European markets are mature and growth opportunities have been limited. Additionally, a slowing global economy weighed down… Read More Analysing orthoxylene and phthalic anhydride markets in 2020
The chemical industry is suffering from three hammer blows. The first is the world economic downturn, which has been exacerbated by the US-China trade standoff. The second is the coronavirus epidemic, which is impacting business around the world. The third emerged last week, when OPEC+ failed to agree on reducing crude oil production, which has… Read More Where Are Chemical Prices Heading?