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Nirmal Bang Report
The Russia-Ukraine conflict is affecting energy, commodities, fertilisers and food crops. The prospects of global inflation and interest rates rising could result in a slowdown or a possible recession, the duration of which is tough to assess as of now.
Global consultant ICIS sees headwinds for petrochemicals demand and margins, as a result of likely demand destruction under the current high prices for the chain.
ICIS believes that there could be a reduction in global petchem utilisation rates as margins are already under pressure and could turn negative.
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