Tuesday, November 11, 2008

Weak demand and a supply glut anticipated by Middle East new capacities to keep operating rates at Asian crackers low

Supply constraints and robust demand propelled petrochemical prices to all time highs in July. Concerns of further price hike led to inventory stockpiling with most players. However, the financial criisis triggered an enormous slowdown in demand, plunging prices to near rock bottom in barely 2-3 months.

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