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Basic Chemical Cycle Headed For β€œA Clear Downturn;” European, U.S. Markets Least Competitive

5:58 AM MDT | April 18, 2008 | Kerri Walsh

The basic chemical cycle will most likely reach β€œa clear downturn by 2009” 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. β€œThe 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,” Jones says. European and U.S. markets will remain least competitive, β€œand this downturn will see further migration of the...

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