U.S. Chemical Industry Outlook “Gloomy” As Coronavirus Cases Cross 8.2 Lakh in the Country

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As per the recent interim updates by the American Chemistry Council (ACC),  there is significant uncertainty in the projections of the U.S. chemical industry as it analyzes the potential impacts of Covid-19 which has caused indefinite halt in the country’s manufacturing activities and muted trading. ACC projects the world trade to plummet by 10.5% this year as the pandemic brings a “perfect storm” to the global economy with U.S. experiencing the hardest blow as it reports the spread of the virus in more than 8.2 lakh people, as on Wednesday, 22nd April 2020. It is being feared that if lockdown restrictions are not eased before the end of Q2 2020, it would result in a sudden and severe collapse in global economy sliding it into the steepest recession since the 1930s.




Asia Pacific Chemicals Pricing (Key Products)
  • Propylene: Propylene priced tumbles in Asia on collapse in crude oil value and slackened demand of the product from major consuming segments. Propylene settled at $610/ tonne FOB Korea, registering a fall of $10/tonne from previous revision.
  • Phenol: Phenol prices edged higher in Southeast Asia on recovery in demand from rubber industries as many industries resumed production in plants after ease in government restrictions to combat virus. Phenol climbed to $700 per MT, up by $15/tonne from previous revision.
  • Styrene: Styrene prices witnessed a downtrend on Wednesday, influenced by slump in prices of its feedstock and reduced offtake from downstream sectors. Styrene prices were pushed down to $510/tonne FOB Korea, with a fall of $45/tonne.
  • Benzene: Benzene prices remained in doldrums and settled at $315/tonne, down by $40/tonne on dwindling upstream value and weak demand from downstream industries.


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