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US chemical production up in August - ACC

September 25/2020

MOSCOW (MRC) -- Chemical production in the US increased by 0.6% on a sequential basis in August, with gains in all regions of the country except the West Coast, reported Chemweek.

Most industry segments reported higher production for August, as well.

The recovery in manufacturing activity also strengthened in August, with overall factory activity up 4.1% on a 3MMA [three-month moving average] basis, ACC says. Production increased for all key chemistry end-use industries that ACC tracks, with the strongest gains in appliances, motor vehicles, aerospace, foundries, iron and steel, refining, plastic and rubber products, tires, and apparel.

On a year-on-year (YOY) basis, US chemical production fell 4.8% in August, the fifteenth consecutive month of declines. Production remains lower on a YOY basis in all regions of the country. However, there has been an improvement over the past several months, ACC says.

As MRC wrote previously, US chemical volumes are expected to drop nearly 10% this year as global economic activity contracts due to the impacts of COVID-19, according 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.

We remind that Russia's output of chemical products rose in August 2020 by 5% year on year. At the same time, production of basic chemicals increased in the first eight months of 2020 by 5.3% year on year, according to Rosstat"s data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-July output.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, petrochemistry, Russia, USA.
Category:General News
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