According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on February 17, 2023, chemical railcar loadings, according to data released by the Association of American Railroads were down to 32,667 for the week ending February 11th. Loadings were down 10.4% Y/Y (13-week MA), down (9.1%) YTD/YTD and have been on the rise for 7 of the last 13 weeks.
Chemical production rose 2.1% in January and was up 3.1% Y/Y. Production increased in most segments except for synthetic rubber, fibers, and paint and coatings. Chemical capacity utilization rose 1.5 points to 76.8% in January. Capacity utilization levels were 81.2% the year before.
Chemical producer prices fell by 0.6% in January. Chemical producer prices have fallen for seven months straight but remain elevated and are up 4.2% Y/Y. Declining prices for agricultural chemicals, bulk petrochemicals & organics, plastic resins, synthetic rubber, and manufactured fibers offset higher prices for consumer products, inorganic chemicals, coatings, and other specialty chemicals.
Chemical import prices rose in January by 1.0% following five months in a row of declines. Import prices were down by 1.5% on a Y/Y basis. Chemical export prices declined by 1.8% in January. Exports prices have moderated steadily since August and were down 6.8% Y/Y.
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 we keep 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 we rely upon judgment whether production in the industry (defined as chemicals excluding pharmaceuticals) has increased or decreased three consecutive months.
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ACC_EconomicsDepartment@americanchemistry.com
American Chemistry Council
The American Chemistry Council (ACC) represents the leading companies engaged in the multibillion-dollar business of chemistry. ACC members apply the science of chemistry to make innovative products, technologies and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health, safety and security performance through Responsible Care®; common sense advocacy addressing major public policy issues; and health and environmental research and product testing. ACC members and chemistry companies are among the largest investors in research and development, and are advancing products, processes and technologies to address climate change, enhance air and water quality, and progress toward a more sustainable, circular economy.
