According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on October 14, 2022, chemical railcar loadings were down 1.8% to 30,187 during the week ending 8 October. Loadings were down 0.8% Y/Y (13-week MA), up 2.9% YTD/YTD and have been on the rise for six of the last 13 weeks.
U.S. production of major plastic resins totaled 7.9 billion pounds during August 2022, down 1.8% compared to the prior month, and up 0.7% Y/Y, according to statistics released by the American Chemistry Council. Year-to-date production was 63.6 billion pounds, a 4.8% increase Y/Y. Sales and captive (internal) use of major plastic resins totaled 8.0 billion pounds, up 8.3% compared to the prior month, and up 4.6% Y/Y. Year-to-date sales and captive use were 62.6 billion pounds, a 5.1% increase Y/Y.
The U.S. Geological Survey reported that monthly production of soda ash in July was 992 thousand tons, up 10.8% compared to the previous month and down 4.7% YTD/YTD. Stocks rose 35.7% compared to June to 308 thousand tons at the end of the month, a 10-day supply. Ending stocks were up 14.5% Y/Y.
Chemical producer prices eased for a third month, down 0.1% in September. Trends among individual categories were mixed with gains in prices for coatings, inorganic chemicals, manufactured fibers, and agricultural chemicals offset by declines in prices for organic chemicals, synthetic rubber and consumer products. Prices for plastic resins, and other specialty chemicals were flat in September. Compared to last September, chemical prices remained ahead by 12.9% Y/Y.
Chemical import prices fell for a second month in September, down 1.9%. Prices for chemical exports were also lower by 3.2%. Compared to a year ago, chemical import prices were up 10.5% Y/Y while export prices were up 1.9% Y/Y, both declining comparisons to the month earlier.
Note On the Color Codes
The banner colors represent observations about the current conditions in the overall economy and the business chemistry. For the overall economy ACC keeps a running tab of 20 indicators. The banner color for the macroeconomic section is determined as follows:
Green – 13 or more positives
Yellow – between 8 and 12 positives
Red – 7 or fewer positives
For the chemical industry there are fewer indicators available. As a result ACC relies upon judgment whether production in the industry (defined as chemicals excluding pharmaceuticals) has increased or decreased three consecutive months.
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Published on October 17, 2022 12:47 PM (GMT+8)
