US fracking demand creates price volatility for hydrochloric acid
Fracking has completely changed the outlook for US natural gas supplies, as the above chart from the latest Energy Information Agency 2014 annual report shows: It forecasts a 56% increase in total natural…
Modi highlights toilets in India’s Independence Day speech
The Indian Prime Minister’s address on Independence Day is the major event of the political year, equal to the US President’s ‘State of the Union’ speech. It was particularly important this year…
The Great Unwinding of policymaker stimulus has begun
Large economies are like supertankers. There are no brakes to use if you want to change direction in a hurry. Instead, you have to put the engine into reverse, and hope you…
India’s WTO veto marks end of global trade deals
The Cycle of Deflation has taken another lurch forward. The reason was India’s decision to veto last year’s Bali deal to streamline customs procedures. Almost certainly, this will prove the dying effort…
China’s waning stimulus spells trouble for the world’s biggest car market
The blog’s latest post for the Financial Times, published on the BeyondBrics blog is below. By Paul Hodges of International eChem China’s July lending level of just Rmb 385bn ($62.6bn) has surprised financial…
European chloralkali output hit as growth slows, Ukraine volumes drop
Chlorine and caustic soda are the bedrock of modern industry. They are used in everything from laundry products to pharmaceuticals. So changes in their business performance are a most valuable guide to…
Eliminating the impossible in China’s polyethylene market
Very large amounts of copper, iron and other commodities are in long-term storage in China as part of the ‘collateral trade’. More recently, it seems large amounts of polyethylene (PE), ethylene glycol (MEG) and probably other…
China’s housing market enters New Normal as prices slide
Markets appear to be continuing to move, slowly but surely, into their expected ‘scary phase’. The reason is the massive distortions that have been created in financial markets, and in China’s housing market, by the…
Markets slip as fears grow Fed’s cheap money may end soon
Western financial markets are getting nervous that the US Federal Reserve will cut off their supply of cheap money. They went through the same panic in 2011. Now they again have to wait to…