European Union petrochemicals prices fell 14.6% in October 2015 compared to a year earlier, the European Chemical Industry Council, Cefic, said in a statement Wednesday.
Petrochemical prices were down 4.7% in the first ten months of 2015 compared to a year earlier, the industry body which represents 29,000 chemical companies across the economic zone, said.
Cefic did not give reasons for the drop in prices or details of individual petrochemicals but said polymers prices dropped 3.8% year-on-year in October.
Total EU chemical sales dropped 3.1% during the first nine months of 2015 compared to the same period a year earlier, Cefic said.
Chemical output during the period grew just 0.2%, the industry body said.
The EU net trade surplus was Eur30.4 billion ($33.2 billion) in the first eight months of 2015, up by Eur1.7 billion from the same period a year ago, Cefic said.
“The rest of Europe — a group including Russia, Turkey and Switzerland and the USA — are by far the largest two contributors to this surplus,” Cefic said.
But the EU chemicals sector had a trade deficit with India, China and Japan during the first eight months of 2015.
“Taking together the three countries; EU chemicals deficit reached the value of Eur1.0 billion during Jan-Aug 2015,” Cefic said.
