CW Insider, May 4

First-quarter earnings reports show that industry conditions are no longer getting worse as chemical demand may have hit a trough. Producers remain cautious, however, and expect global recessionary conditions to remain through 2009. BASF chairman and CEO Jürgen Hambrecht told investors last week there are no signs that the economy will improve much this year. “We do not consider temporary topping up of inventories in some regions and industries to be signs of a sustainable upturn,” Hambrecht says. Dow Chemical says volumes have improved...

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