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Global chemical output rises by 1.4% in February

April 06/2021

MOSCOW (MRC) -- Global chemical output rose by 1.4% in February, at a slightly slower pace than January, said American Chemistry Council (ACC).

The ACCs Global Chemical Production Index (CPRI) measures the production volume of the chemical industry for 33 key nations, sub-regions, and regions, all aggregated to the world total. During February, output was weak in most regions, with chemical production increasing in the Commonwealth of Independent States and in the Asia-Pacific region.

Headline global production was up 14.4% year on year on a three-month moving average (3MMA) basis. Global output stood at 132% of its average 2012 levels. Global capacity rose 0.2% and was up 1.9% year on year. With improving production capacity utilisation in the global chemical industry rose one point to 89.2%, above February levels.

The effects of the mid-February freeze influenced chemical production in North America. Production fell by 3.3% in the region, with activity improved in Mexico and soft in Canada. Regional activity was down by 3.9% year on year with year-earlier declines in the US, Canada, and Mexico.

As MRC informed earlier, there has been a shortage of suspension polyvinyl chloride (SPVC) in the world since the end of last year, prices are breaking new historical records. The Russian market also does not stand aside from the global trends, producers intend to achieve a further rise in April prices, and in some cases, a price increase of Rb10,000/tonne and higher is being discussed.

As per MRC, Russia's output of chemical products rose in February 2021 by 5.3% year on year. Thus, production of basic chemicals increased year on year by 7.5% in the first two months of 2021. According to the Federal State Statistics Service of the Russian Federation, mineral fertilizers accounted for the greatest increase in the January-February output. Production of benzene dropped to 113,000 tonnes in February 2021, compared to 120,000 tonnes a month earlier. Overall output of this product reached 241,000 tonnes over the stated period, down by 7.5% year on year.
Author:Anna Larionova
Tags:North America, CIS, petroleum products, neftegaz, petrochemistry.
Category:General News
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