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