" Chemicals Recession
European chemicals production is the weakest since 2009 amid destocking, poor demand and high energy costs"
2 Likes
This is happening worldwide for high value production in aluminum as well. Stocks of extrusions and billet shapes are being worked down, these tier 3, 2 or 1 materials are being inventory optimized across most sectors EXCEPT commercial transportation where many parts of an OTR Van trailers are running regular to slight increases in production.
Interestingly, the electric car segments continue to represent reducing demand and, with hand to mouth stocks in most contracts, the volume is DOWN as much as 80%
Lucid volume is down 80+%
Tesla is down more than 40%
Ford volume is at par
Boutique manufacturers other than Lucid represent insignificant volume and in the above case, do not have reliable YoY comparisons.
2 Likes