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AlwaysFree: American Chemistry Council (ACC) Weekly Chemistry & Economic Trends (May 12, 2023) - Chemicals

Author: SSESSMENTS

According to American Chemistry Council (ACC) Weekly Chemistry & Economic Trends report on May 12, 2023, chemical railcar loadings were down 2.3% to 33,084 for the week ending May 6. Loadings were down 4.7% Y/Y (13-week MA), down 5.8% YTD/YTD and have been on the rise for 8 of the last 13 weeks according to data released by the AAR.  

At the wholesale level, chemical sales were down 0.4% in March, following a 1.3% increase in February. Chemical wholesale inventories edged lower by 0.5% following a 1.2% decline in February. Compared to last March, sales were down 5.7% Y/Y while inventories were 1.4% Y/Y higher. The inventories-to-sales ratio for chemicals did not change (1.19) from February. Last March, the ratio was 1.10. 

U.S. chemical exports were up by 16.3% in March to $15.2 billion, a level down 4.7% Y/Y. Exports grew across all categories of chemicals. U.S. chemical imports also grew in March – by 5.8% to $12.1 billion, a level down 13.9% Y/Y. Imports were lower in most categories but expanded in consumer products, inorganics and coatings. The chemical trade surplus expanded by $1.5 billion to $3.1 billion in March and was up to $5.7 billion year-to-date. 

Chemical producer prices rose 0.5% in April as higher prices for plastic resins and synthetic rubber offset declines in inorganics and agricultural chemicals. Other chemical sectors showed slight increases (0.5% or less). Chemical producer prices were up 1.7% Y/Y (3MMA). Chemical import prices, however, moved lower by 0.2% in April, the third consecutive decline. Export prices edged slightly higher, up by 0.1%. Chemical import prices were up 9.8% Y/Y while export prices were off by 8.0% 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. 

For More Information

ACC members can access additional data, economic analyses, presentations, outlooks, and weekly economic updates through MemberExchange.

In addition to this weekly report, ACC offers numerous other economic data that cover worldwide production, trade, shipments, inventories, price indices, energy, employment, investment, R&D, EH&S, financial performance measures, macroeconomic data, plus much more. To order, visit http://store.americanchemistry.com/

Every effort has been made in the preparation of this weekly report to provide the best available information and analysis. However, neither the American Chemistry Council, nor any of its employees, agents or other assigns makes any warranty, expressed or implied, or assumes any liability or responsibility for any use, or the results of such use, of any information or data disclosed in this material. 

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. 

Tags: All Chemicals,All Products,AlwaysFree,Americas,English,US

Published on May 15, 2023 9:20 AM (GMT+8)
Last Updated on May 15, 2023 9:20 AM (GMT+8)