LyondellBasell says watchful for demand improvements in China

In the second quarter, the company expects seasonal demand improvements across most businesses. Low costs for natural gas and NGLs should continue to benefit margins from LYB‘s North American and Middle East production relative to higher oil-based costs in most other regions. With the start of the summer driving season, oxyfuels and refining margins are expected to increase with higher gasoline crack spreads and lower butane costs. During the second quarter, LYB expects to operate its assets in line with market demand with average operating rates of 85% for global olefins and polyolefins assets and 80% for the Intermediates & Derivatives assets. The company continues to monitor targeted stimulus efforts and remains watchful for demand improvements in China. “One year after launching our new strategy, the LYB team continues to be highly focused on execution, accountability and delivering results. Sales volumes for recycled and renewable-based polymers are rapidly growing through our comprehensive approach to building a leading CLCS business. We will extend this growth with continued development of our integrated hubs in Cologne and Houston,” said Vanacker.