Petrochemicals

Continued project delays in the Mideast, particularly in Iran, and robust economic growth have lifted industry sentiment this year. Petrochemical markets have rebounded from weak demand in the fourth quarter after a sharp inventory draw down as energy prices fell. Producers expect another year of strong earnings, as demand and supply conditions stay balanced to tight. Operating profit for several products has likely peaked, but balanced supply, and feedstock costs are expected to be comparable to 2006 levels, which should allow sellers to hold margins this year...

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