Confidence on future conditions fell despite stabilization in the greater petrochemical market.
Despite stabilization in the wider petrochemical industry, European automotive-linked petrochemical confidence in future conditions is less than rosy, according to ICIS. Confidence is at its lowest level since ICIS began compiling data in May via its Chemical Market Confidence Index (CMCI). The ICIS Europe CMCI aggregates sentiment from hundreds of petrochemical market players actively involved in price negotiations across more than 60 different markets.
EU new car registrations were strong in August, suggesting the industry expects a downturn, according to the article. A drop in confidence across all indicators reportedly indicates that European carmakers are anticipating a tougher trading environment in the near future.
