Recently, BASF and Covestro simultaneously lowered their full-year profit expectations. This trend highlights the fragility of current global economic growth. With the possibility of the United States imposing high tariffs on the European Union, the global market is expected to continue to face pressure.     On July 11th, the two German chemical giants, BASF and Covestro, simultaneously lowered their full-year growth expectations and both attributed it to the weak macroeconomy. BASF lowered its global GDP growth forecast ...

    On July 10th, the Brazilian Chemical Industry Association, representing Brazilian chemical producers, expressed concern over President Trump’s threat to impose a 50% tariff on Brazilian exports, and called for resolving the dispute through technical dialogue.     The Brazilian Chemical Industry Association stated in its written response to Astec that the imposition of tariffs by the United States has a significant impact on the Brazilian chemical industry. This is not only because the industry directly exports products to ...

Recently, US President Trump signed the “Big and Beautiful” tax and spending bill, which made significant adjustments to the US energy policy. The shift in the US energy policy not only affects the pace of the US energy transition but may also trigger a major reshuffle in the global energy structure. The “Big and Beautiful” bill has abolished many tax incentives for clean energy and energy efficiency projects such as wind and solar energy in the Inflation Reduction Act, which ...

Recently, US President Trump signed the “Big and Beautiful” tax and spending bill, which made significant adjustments to the US energy policy. The shift in the US energy policy not only affects the pace of the US energy transition but may also trigger a major reshuffle in the global energy structure. The “Big and Beautiful” bill has abolished many tax incentives for clean energy and energy efficiency projects such as wind and solar energy in the Inflation Reduction Act, which ...

Recent market analysts have stated that the conflict between Israel and Iran has had a significant impact on the chemical industry in the Middle East. Although Israel did not directly attack Iranian chemical facilities, the indirect effects of the conflict still led Iran to shut down most of its chemical production facilities. On the other hand, Iran targeted Israel’s oil refining and petrochemical industries, forcing many production units to cease operation. Currently, although both sides are still implementing the ceasefire ...