Episode 1141: Think Tank: Indorama, BASF strategy shift could signal end of integrated European sites
High costs and cheap imports from Asia may force the owners of integrated petrochemical sites in Europe - such as Indorama Ventures and BASF - to import feedstocks and cease local upstream production. - Indorama suffers low operating rates, poor profitability- Six upstream sites under review for closure- More feedstocks in Asia as refineries start up, less in Europe- Moves may not be enough to save downstream plants- Massive capacity growth in China means more trade barriers needed- Chemicals CEOs need to prepare for constant instability