LyondellBasell sees slow demand, economic uncertainty Q1

The company said, “In the first quarter of 2024, seasonally slow demand and economic uncertainty are expected to provide continued headwinds for most businesses. Relatively low ethane raw material costs are continuing to benefit North American Olefins & Polyolefins margins while regional demand is showing modest improvement.mThe company expects oxyfuels and refining margins to be within typical winter seasonal ranges. In China, January demand was subdued as buyers managed inventories around Lunar New Year holidays and growth remained uncertain. Spring and summer seasonal demand improvements are expected across global markets. LYB is aligning first quarter operating rates with global demand and expects to operate Olefins & Polyolefins Americas assets at approximately 80%, and both Olefins & Polyolefins EAI assets and Intermediates & Derivatives assets at approximately 75%.”