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