For global petrochemicals, what went up is coming down…down…
Commodities Focus
00:00
The Slowdown in Industrial Production
The base case for SAP Global calls for a mild recession at some point in 2023 in Europe and the US. My impression is that there's all this overcapacity, and the least economical producers have been sheltered from the situation. And they're going to have to start shutting down over the next few years. The initial student is coming out of COVID; you've seen that in weaker margins.
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