In addition to declining oil prices, the company was also affected by an aerospace customer destocking
in the first half of its fiscal year.
16 million tons, destocking
89 kt, largely driven by continuous expansion of global tire industry.
Sustained job cuts, ongoing destocking
activities and reduced purchasing activity all suggest that the sector may remain in contractionary territory as we head into mid-year," she said, adding that more stimulus measures may be required to help boost domestic demand and recover some growth momentum.
The overall decline in worldwide oil prices in the last nine months has caused petrochemical supply-chain destocking
, but it's also sowing the seeds for better economic prices and improved demand for petrochemicals and plastics--trends that should ultimately tighten market conditions.
The Yeovil-based firm, which has sold 150m manuals since 1960, only expects to make a small profit in the first six months of its financial year, although it believes it is now over the worst of the destocking
The Cardiff-based business, which makes components for smartphones and tablets, was hurt by customers destocking
due to a softness in the handset market coupled with the strength of sterling.
This triggered heavy trade destocking
and a slower order pace that meaningfully affected our US mass market and overall business.
Aleris, which competes with steel and carbon fibre to cast metal items for planes and cars, braced for a bumpy fourth quarter, with "general uncertainty driving further destocking
in addition to normal seasonal slow down," it said in its quarterly earnings report.
Retail confidence kept its large gain from June that was based on an improvement in both expected and recent sales, supported by destocking
The June numbers were strong because of a low comparative base and the heavy destocking
China did last year, said Barclays analyst Sijin Chen, who pegged the country's growth in oil demand at around 5 per cent for 2013.
And as 80% of common land is SSSI, graziers will be locked into destocking
and these areas will be blighted forever," he insisted.
This would be done in response to weak potash demand and to accelerate the destocking
process, he said.