Regions :: Middle East
Basic Chemical Cycle Headed For βA Clear Downturn;β European, U.S. Markets Least Competitive
5:58 AM MDT | April 18, 2008 | Kerri Walsh
The basic chemical cycle will most likely reach βa clear downturn by 2009β because new ethylene projects in China and the Middle East will force global ethylene utilization rates below 90%, says Deutsche Bank (London) analyst Tim Jones. βThe exact start of the downturn is difficult to call, but with 2009 clearly being weak, chemical customers may de-stock ahead of this, which could pull forward the start to second-half 2008,β Jones says. European and U.S. markets will remain least competitive, βand this downturn will see further migration of the...
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