#China has burned through much of a petrochemicals glut built up by years of overproduction as the US-Iran war chokes oi | Hanami
#China has burned through much of a petrochemicals glut built up by years of overproduction as the US-Iran war chokes oil flows, setting the stage for higher prices for an array of industrial materials.
The squeeze is most acute in the so-called aromatics chain and the downstream products made from these chemicals, according to JPMorgan Chase & Co. and commodities data provider ICIS. That includes rubber for car tires and electrical insulation, resins, and plastic bottles, as well as various paints and coatings. #oott https://www.bloomberg.com/news/articles/2026-10-21/eight-months-of-war-turns-china-petrochemical-glut-into-a-crunch