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Ukraine conflict affects chemical market

wallpapers News 2020-09-06

according to foreign media reports, industry insiders recently said that the military conflict between Ukraine's Pro Russian forces the Ukrainian government, which began in February this year, has forced the closure of some major fertilizer plants in Ukraine is slowing down the chemical trade between Ukraine other European countries. Before the conflict, Ukraine was one of the world's largest producers exporters of fertilizers. But after the conflict, ostchem's two fertilizer plants in eastern Ukraine have been shut down there is no sign of reopening. The two plants account for about one-third of Ukraine's ammonia urea production. Evgenia apostolopoulou, senior consultant of IHS chemical company

, said that fertilizer supply in the United States Europe was becoming increasingly tight due to the dual impact of reduced supply from Ukraine increased dem for the coming planting season.

at the same time, the German Chemical Industry Association (VCI) said geopolitical risks, including the conflict in Ukraine, had led to a reduction in orders for German chemical companies. Rising geopolitical risks in Europe led to a 2.3% decline in German chemical production in the second quarter compared with the first quarter. Industry insiders of

said that chemical enterprises are paying close attention to the impact of EU US trade sanctions on Russia. BASF's export revenue was 1.8 billion US dollars last year. The company said that as of the end of July, the Ukrainian conflict had no impact on the company's trade. However, it is not clear at present what impact the EU US sanctions on Russia will have on its medium long-term business.


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