BARCELONA (ICIS)–Global chemical prices are falling just as Europe braces itself for more summer heatwaves, drought and a winter of gas rationing.
- Steep fall in chemical, polymer prices continues into August
- Indicates falling downstream demand
- Autumn monitored for demand pick up
- All Asia prices fell in July’s ICIS Petrochemical Index (IPEX)
- Prices in Europe move down towards Asia
- Spreads at historical lows for Asian polyethylene (PE)
- High inflation fuels demand destruction
- European chemical companies face drought, high temperatures and gas rationing
- Evonik to boost use of liquefied petroleum gas (LPG), cut natural gas
- Large switch to LPG could distort trade flows
- Industry must prepare for possible shut downs in winter
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