This week on petrochemicals

1. Neste and Mitsubishi Corporation (MC) have formed a strategic partnership to develop value chains for renewable chemicals and plastics with Japanese brands. They are targeting brands in the food and beverage, apparel, and consumer electronics industries. The partnership aims to accelerate the creation of defossilized supply chains for brand owners in Japan.
2. According to the IMF, Asia’s emerging market economies, particularly India and China, remain key drivers of the global economy, accounting for almost half of global growth. However, the outlook for the next five years is weak due to declining momentum in emerging Asia. By 2029, China's growth is expected to slow to 3.3%, significantly lower than its current rate.
3. In Europe, several major PE suppliers have closed their orders for LDPE for the rest of July further to disrupted imports, production issues, and planned turnarounds in August and September impacting the local availability.? The market players expect prices to increase as of August.
4. On July 11, the European Commission imposed provisional antidumping measures on suspension polyvinylchloride (S-PVC) imports from Egypt and the US. The duties, ranging from 58% to 100.1% depending on the supplier, took effect on July 12 and will last for six months.

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