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COVID-19 - News digest as of 29.06.2020

June 29/2020

1. Dow expects lower EBITDA due to slow recovery in consumer, automotive sectors

MOSCOW (MRC) -- Dow says it expects a USD350-million headwind to second-quarter EBITDA, mostly due to a slower-than-expected demand recovery in the automotive and consumer durables end markets, reported Chemweek. The demand decline will particularly impact Dows polyurethanes business, where second-quarter demand is expected to decline by about 2530% year on year (YOY). Dow had previously expected a 1520% YOY demand decline for polyurethanes in the second quarter. About two-thirds of the EBITDA impact can be attributed to the delayed and slower recovery in the automotive, construction, appliance, and furniture sectors, Dow president and CFO Howard Ungerleider said in a virtual conference presentation this morning. The rest is being driven by margin pressure due to lower demand, which is negatively impacting pricing power, along with MEG softness, he added.

http://www.mrcplast.com/news-news_open-372601.html

2. ACC sees near 10% drop in US chemical volumes in 2020

MOSCOW (MRC) -- US chemical volumes are expected to drop nearly 10% this year as global economic activity contracts due to the impacts of COVID-19, reported Chemweek with reference to the American Chemistry Council"s (ACC) Mid-Year 2020 Chemical Industry Situation and Outlook. Volumes should recover in 2021 with a return to pre-COVID-19 output levels in the US by the second half of 2021.

http://www.mrcplast.com/news-news_open-372602.html

3. Naphtha supply to tighten on lower refinery output

MOSCOW (MRC) -- Naphtha output is forecast to stay tight into 2021 as destruction of fuel demand caused by COVID-19 curbs refinery throughput and caps supply of the dominant feedstock for ethylene production, according to Premasish Das, executive director at IHS Markit, said Chemweek. About 75% of naphtha, the feedstock for more than 40% of ethylene produced worldwide, comes from refineries. But refineries do not run based on how much naphtha they want to produce. They run based on how much other key refined products they need to produce, says Das, speaking today at IHS Markits Asia NGLs and Naphtha Conference Online.

http://www.mrcplast.com/news-news_open-372521.html

4. U.S. Chemical production edged lower in April

MOSCOW (MRC) According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) tumbled 3.1%  in April following a 1.0% decline in March and a 0.4 percent decline in February, said Chemweek. During April, chemical output fell across all regions, with the steepest decline in the Gulf Coast region. The lower level of chemical activity is directly related to supply chain disruptions and the lockdown of much of the U.S. economy during April.

http://www.mrcplast.com/news-news_open-370928.html

5. ECHA reports rise in non-compliant hand disinfectants in EU markets

MOSCOW (MRC) -- The European Chemicals Agency (ECHA; Helsinki, Finland) says that 20 EU member states have reported an increase in non-compliant hand disinfectants on their markets since March, triggered by high demand for these products to fight COVID-19, reported Chemweek. The authorities in EU countries are performing inspections and taking measures that include fines and the withdrawal of the products from the market, and communicating them in Rapid Alert System for Non-Food Products (RAPEX) to raise public awareness about the ineffective products marketed to consumers as disinfectants, ECHA says.

http://www.mrcplast.com/news-news_open-371730.html


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PE, crude and gaz condensate, ethylene, petrochemistry, Dow, COVID-19, USA.
Category:General News
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