Episode 1007: Think Tank: Demand flops in chemical markets around the world, outlook gloomy

Chemical markets around the world are suffering from collapsed demand conditions and oversupply with no prospect of a turnaround in the coming months.  -          Demand failure globally in Q2, traditionally the strongest of the year-          Hopes of rebound in 2024, but no evidence for this-          Consumers focus on basics as wages not keeping pace with high inflation, interest rates-          Economic drag caused by rising elderly demographic-          Huge growth in chemicals capacity, especially in China-          Prospect of deflation if Ukraine war ends-          China switches from world’s biggest net importer to exporter of many chemicals