June Daze

Pricing and sentiment hit a soft patch in June as industry tries to gauge whether it is weathering an inventory-driven pause or something more severe. ACC and Cefic recently issued mid-year forecasts that were above projections made late last year, reflecting an exceptionally strong performance in early 2011 ( p. 9). Despite concerns about a slowdown in the U.S. GDP, ACC expects U.S. chemicals output to rise 4.1% this year, and by 3.5% in 2012, the group says in its mid-year outlook. In Europe, Cefic raised its forecast for 2011 chemicals output to 4.5%, up from...

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