German Chimprome Faced a Fall in Production Due to Gas Build-Up
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2 Articles
The German chemical industry has experienced a decline in production, orders, and speed against the backdrop of a sharp rise in natural gas prices. Since summer, gas prices in Germany have tripled for the industry and are now ten times higher than the cost of fuel in the US, writing Handelsblatt with reference to the FRG Chemical Industry Association (VCI). Electricity prices have also increased by 80 per cent. "As the US and Asia chemical produ…
The German industry was faced with a new wave of economic difficulties: the rise in energy costs coincided with a decline in orders and production; the particularly difficult situation was in the chemical pharmaceutical sector, which showed signs of recovery in the spring, but by autumn the positive momentum had been reversed, according to the German Chemical Industry Association (VCI) quarterly report of 12 November.
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