PC

Polycarbonate prices plummet in September. In September 2023, polycarbonate grade prices saw noticeable decreases.

Despite post-holiday expectations, demand stayed low.

Domestic prices are now competitive, making import offers, especially from Asia, less attractive. This shift may influence a change in trade patterns.

Forecasts suggest prices might either decline or stabilize for the year due to ongoing demand issues.

Rising inflation, potentially fueled by crude oil price surges, could challenge the 2024 market recovery.

Covestro sales plunge, EBITDA down. In Q2 2023, Covestro’s financial performance reflected the challenging economic conditions, with group sales decreasing by 20.9% to €3.7 billion.

EBITDA also fell by 29.6% to €385 million.

Furthermore, the net income took a significant hit, plummeting 76.9% to €46 million.

Covestro reaffirms its fiscal 2023 guidance initially announced in April, which estimated an EBITDA ranging between EUR 1.1 billion and EUR 1.6 billion.

The company currently foresees its results to lean towards the lower end of these specified ranges for all primary indicators.

Covestro is one of the world’s leading producers of polycarbonate (PC), a versatile and high-performance plastic.

Polycarbonate is used in many sectors, from automotive, electrical and electronics, construction, medical devices to the IT industry.

PC surging trade May 2023. The Polycarbonate (PC) trade landscape within the EU27 has undergone a significant transformation during the first five months of 2023.

Data from Eurostat shows import volumes in May surged to a record high of 26,783 metric tons, marking a substantial increase compared to the same period last year.

However, exports experienced a notable decline, dropping to 15,516 metric tons in May 2023. The data reflects significant changes in the region’s PC trade dynamics, reflecting both lower demand in Europe and increased capacity in China.

Disclaimer: The information presented in this article is based on available data as of August 2, 2023. For the most up-to-date and accurate data, readers are encouraged to refer to official sources and relevant market experts.

A marked shift in the trade balance of the EU27 has emerged in the first four months of 2023, as the polycarbonate (PC) EU exports drop significantly compared to the same period in 2022. Meanwhile, polycarbonate (PC) import figures for Eurostat have shown an upward trend.

From January to April 2023, the EU27 countries reported a dramatic decrease in total exports, with the export total standing at 44,097 million tons (MT). This marks a significant decline compared to the export total for the same period in 2022, which reached 92,116 MT.

In contrast, the import numbers present a different narrative. The aggregate import total for the same four-month period in 2023 witnessed a marked rise, reaching 53,740 MT compared to the 45,541 MT reported for the same period in 2022.

The economic dynamics of the EU27 indicate a shift as PC EU exports drop, transitioning the union from a net exporter to a net importer. The union has experienced a reduction of over 50% in exports compared to the previous year, while imports have witnessed an increase of approximately 18%.