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Sharp Demand and Price Declines Cloud Outlook

9:08 AM MST | November 11, 2008 | Robert Westervelt and Lindsey Bewley

A swoon in chemical demand and prices over the past month, particularly across Asia, has created a distinctly different market environment and industry outlook from what existed in the first nine months of 2008. Producers are scaling back production, anticipating that demand will remain weak as customers scramble to liquidate high-cost inventories through year-end. Weidman: Industry facing slower growth. The economic weakness and declining consumer confidence that have weighed on the U.S. for the past two years have gone global and are affecting just about all...

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