U.S. stocks 5 melting record, chemical giants have cut back on spending, China's chemical industry or usher in opportunities!

local time on the 18th, U.Sstocks fell, the Sand P500 index fell more than 7 percent, again melting the suspension for 15 minutesIt was also the fourth meltdown in two weeksAfter trading again, the three major indexes continued to dip, with the Sand P500 index falling nearly 10 percent at one point, erasing all gains since MrTrump took officeU.Sstocks are affecting global financeAfter the U.Sstock market plunge, Brazil, Australia, Thailand and other countries, the stock market has plummeted, and even triggered a fuse!Brazil's IBOVESPA index opened down 12.5 per cent, triggering a fuse,Israel's Tel Aviv benchmark index fell 8 per cent, trading was suspended for 30 minutes,the Toronto Stock Exchange triggered a first-tier market fuse mechanism,The Australian stock market fell 9.7 per cent, its biggest drop since June 1992, the Philippines, India, Thailand and other markets fell more than 5 per cent, South Korea fell more than 3 per cent; chemical giants are at risk of recession in Europe
with all three major European markets falling sharply, with the FTSE 100 down 4.01 per cent, France's CAC 40 down 5.75 per cent and Germany's Frankfurt dax down 5.31 per cent In response, European Central Bank President Christine Lagarde said the new outbreak would trigger a European economic downturn similar to the 2008 financial crisis Europe has become the centre of global outbreaks as the number of confirmed cases has increased The closure and closure of The Italian Industrial and Economic Centres, which has been affected by the outbreak, has affected production and manufacturing in Italy and has also caused supply faults in some industries The shutdown of Italy's industrial zones is just the tip of Europe's iceberg Europe has Switzerland's Aymans Chemical (polyamide material), Sika (chemical building materials products), Clariant (catalyst, pigment), Norway's Aiken (global silicon materials) and other chemical giants, chemical companies, the entire European Union in 2018 sales accounted for 16% of the world, second only to China, is one of the world's chemical industry's important production base is known to account for 29% of external exports of chemicals from the European Union, with Asia's main export market If the spread of the epidemic leads to large-scale production stoppages in Europe, it will affect the global chemical industry chain, resulting in industrial chain fault chemical giants have struggled to keep cutting spending DuPont: it expects to cut costs by more than $90 million
despite a surge in demand for DuPont protective clothing from the new crown outbreak, DuPont has cut its sales guidance for the first quarter and full year of 2020 DuPont said at the JPMorgan Industrial Conference that first-quarter sales were expected to be $5 billion to $5.1 billion, compared with its previous guidance target of $5.1 billion to $5.2 billion full-year sales in 2020 are expected to be $21.3 billion to $21.8 billion, compared with an earlier forecast of $21.5 billion to $22 billion, as the first quarter is affected by the new crown outbreak DuPont said it was not possible to quantify the impact of the new corona outbreak on the post-first quarter mean, DuPont is looking for more ways to cut costs beyond its previous estimate of $90 million in cost-cutting in China, 12 of DuPont's 13 plants are operating, and only the Wuhan plant remains closed Of the chinese plants already in operation, nine are at full capacity and the rest have returned to more than 70 per cent of capacity DuPont said logistics in China were improving and the company would continue to monitor supply DuPont's plants in Japan and South Korea are also at full capacity, while production capacity at its Italian plants is declining ExxonMobil: Plans to slash spending U.S company Exxon Mobil says it wants to slash spending as a result of the new crown outbreak and falling commodity prices "Based on this unprecedented environment, we are evaluating all appropriate measures to significantly reduce capital and operating expenses in the near future," said Darren Woods, chairman and chief executive of ExxonMobil, When the plan is finalized, we will outline the plan "
ExxonMobil is currently closely monitoring the outbreak of the new coronavirus and adjusting its work schedule sits to ensure a healthy working environment and support the communities in which it operates Solvay: Plans to cut costs by 350 million euros
Belgian chemical group Solvay said factors such as the new crown outbreak, the shutdown of Boeing's 737 MAX and the weak economic outlook would adversely affect its core earnings Solvay forecast earnings before interest, tax, depreciation and amortisation (EBITDA) of 0 to -3 per cent this year and said it would fall to a high single digit in the first quarter alone the company said it expected 25 million euros to be affected by the new corona outbreak in the first quarter of this year, adding that it would update its outlook as the situation progressed further Solvay's EBITDA was EUR 2.32 billion in 2019 , Solvay also supplies composite materials for boeing 737MAX aircraft, which is now expected to cost Solvay between 30 million and 40 million euros by 2020 as a result of the shutdown of the Boeing 737MAX aircraft Boeing will produce the 737 MAX in 2019, after Solvay predicted that Boeing would produce 200 737 MAX aircraft Solvay said Solvay remained confident of a median annual average of average underlying EBITDA growth between 2020 and 2024 Solvay also noted that plans to restructure its materials, chemicals and solutions business last year would raise its medium-term cost-cutting target by at least 350 million euros, compared with the previous target of 300 million to 350 million euros LG Chem: Postponing plans to split its battery business
the company said Monday that It is considering delaying the separation of its key battery division as the number of new coronavirus infections continues to climb in South Korea and other major economies "LG-Chem has decided to suspend the spin-off of its battery business as the company faces growing barriers and uncertainty," said , an official with knowledge of the matter "
While coronaviruses are affecting every aspect of its business, the company's long-term growth opportunities remain LGChem's battery business is considered a very promising future growth engine for the entire group LG-Chem supplies batteries for general motors plug-in hybrid electric vehicles such as the Volt It is also one of Tesla's top battery suppliers , taking into account strong growth and market potential, LG-Chem plans to create a comprehensive division with batteries for mobile phones and electric vehicles to keep its new business viable LG-Chem is also said to be making an initial public offering at the time of the spin-off as part of a massive financing effort to sustain its battery business but LGChem still relies on its petrochemicals, and the chemical industry is not in a good mood in many ways Coronary virus escoavirus escoaisis is affecting the U.S auto industry, which could disrupt parts supply or model production China's chemical industry or usher in opportunities?! but fortunately, China's strong epidemic prevention measures and means, so that China become severing the country, coupled with various subsidy support policies, the Chinese market is recovering, which also let the major international chemical giants see hope, Europe has fallen, Japan and South Korea have long been reduced, the United States shares melted 5 times, under the pressure of the epidemic, only China has become the hope of major chemical giants! Bob Patel, chief executive of Lyondelba sell Industries, a , said: "In China, our composite equipment has returned to full capacity We know from our employees in Asia that business is starting to return to normal Howard Ungerleider, chief financial officer of Dow, , said he saw signs of a recovery in Chinese economic activity "The vast majority of our plants in China are operating, and some are operating continuously to balance demand and logistics constraints, although capacity has not fully recovered "。 Anglade estimates that the company's first-quarter revenue in China will be affected by $400 million and profits will be $100 million He added that a slowdown in the rest of the world could have an additional $100m impact on profits Jim Fitterling, chief executive of Dow, , told CNBC television that demand for chinese products has rebounded in the past two weeks, selling positive signals and that the U.S should be confident of a recovery it can be seen that China's chemical industry in the next period of time or usherined in opportunities, I hope that the major chemical enterprises seize the opportunity to grow and develop at the same time to do a good job of epidemic prevention work!