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ACC chemical activity barometer continues to rise

November 25/2020

MOSCOW (MRC) -- The ACC�s Chemical Activity Barometer (CAB) for November showed continued economic recovery in the US, with the three-month moving average (3MMA) rising 0.8% sequentially, versus a 1.0% gain in October and a 1.5% gain in September. The figure last declined in May, reported Chemweek.

Year-over-year (YOY), the October 3MMA CAB declined 2.4%.

Production-related indicators were positive in November, says ACC: �Trends in construction-related resins, pigments and related performance chemistry were mixed. Resins and chemistry used in light vehicles and other durable goods were strong. Gains in plastic resins used in packaging and for consumer and institutional applications were positive. Performance chemistry for industry rebounded and US exports were mixed.�

Equity prices rebounded, ACC adds, and product and input prices were positive. Inventory and other supply chain indicators were also positive.

The CAB provides an indicator of overall economic activity with a lead of 2-14 months.

As MRC wrote before, CAB, a leading economic indicator and composite of industry activity, rose 0.9% in October on a three-month moving average (3MMA) basis. This is significantly smaller than the 1.5% increase in September, and a 2.6% gain in August, indicating a continued economic recovery, albeit at a slower pace.

According to MRC"s ScanPlast report, Russia"s estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers" inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, petrochemistry, Russia, USA.
Category:General News
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