Recent comments from LyondellBasell’s COO, and BASF’s CEO, seem worth highlighting as we come to the end of the results season.Dineen.jpg
Ed Dineen noted that China’s polyethylene demand seems partly linked to changes in crude oil pricing, “It turned down somewhat as we saw crude retreat a little, but as crude turned back up toward $80/bbl, we saw the Chinese market react strongly to that”.
Hambrecht.jpgSecondly, Jurgen Hambrecht worried that although “business had stabilised at a low level“, “little attention was being paid to structural overcapacities“.
Hambrecht also warned that “the effects of stimulus packages are starting to peter out, many companies are dealing with financing problems, the number of bankruptcies is increasing and unemployment is rising“.