Episode 574: Suez Canal blockage adds insult to injury for chemical markets already starved of supply
ICIS - chemical podcasts
English - March 29, 2021 00:00 - 19 minutes - 27.4 MBBusiness chemicals prices business polymer trade Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Episode 571: China’s MMA weighed down by new capacity, weak downstream
Closure of the Suez canal heaps further pressure on chemical supply chains which are already suffering from product shortages and strong demand.
- Suez blockage adds to market woes caused by shipping container crisis; US, Europe and Middle East outages; semi-conductor shortages
- No sign of easing in many chemical markets – supply more important than price
- Cargoes stuck at Suez include base oils, methanol, purified terephthalic acid (PTA), polyethylene terephthalic (PET), monoethylene glycol (MEG), acetone, bisphenol A (BPA)
- Pressure building to make supply chains more robust
- Global base oils markets are dry, situation is critical
- China imports of high density polyethylene (HDPE) and polypropylene (PP) have collapsed