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According to ACC, U.S. chemical companies are increasing their production. In September this year, the utilization rate of the equipment has risen to 72.3%. In December last year, the utilization rate of equipment fell to a low of 67.2%. Compared with August, US chemical production increased by 0.6% in September. Although there is still an 8.8% difference from the output of last September, the gap is gradually narrowing.
The ACC stated that in the past seven months, global chemical industry production has shown a growth trend for six months, which indicates that the recovery of the global industrial industry has started. However, the pace of recovery of chemical industries in the United States and Western Europe still lags behind the global average.
American Chemical Company has recently released its third-quarter earnings report. Although Dow Chemical's sales revenue in the third quarter decreased by 22% year-on-year, it has increased by 6% compared to the second quarter, and its net profit nearly doubled. Dow Chemical CEO Li Weicheng said: “The third quarter, Dow Chemical once again submitted a satisfactory performance report. Compared with the previous quarter, the company’s advanced materials and performance products business began to benefit from the recovery of the global economy. "DuPont's net profit for the third quarter reached $409 million, compared with a net profit of $367 million for the same period last year. According to Alan Coleman, CEO of DuPont, “In general, the company survived the severe business environment in the third quarter and its performance began to recover. The performance of the company in the fourth quarter should have good performance. Agriculture, The demand for coatings and performance materials markets will increase compared to the same period last year."
According to Deutsche Bank, current chemical prices and raw material costs are relatively stable, while product sales have increased. The decline in the housing market in the United States is slowing down, and vehicle production may increase in the fourth quarter. These are good news for the American chemical industry, which means that there will be a real recovery in market demand. However, for the fourth quarter, Deutsche Bank expects US GDP growth rate to fall from 4% in the third quarter to 2.5%, while export demand may also decline in the third quarter when the peak value is reached, partly due to the increase in the Middle East The impact of production capacity gradually put into production.
The American Chemical Industry Council (ACC) recently gave the US Chemical Industry “Green Flag†rating in its weekly economic report, which is the most optimistic rating among the ACC's three rating scales, and it is also the first time since February 2008 that the ACC has given the US Chemical Industry. The most positive evaluation. This is because the ACC understands that most U.S. manufacturers have already begun the process of rebuilding their inventory.
May 16, 2021