From paints to plastics, a chemical shortage ignites prices

Please subscribe to IBJ to decode this article.

rnoenrfogpNpaotdvprmprmdp p sh hece i cevoyetdtay oe htniinrur eieh iictet baomecbo esn tnsa alosstch Ieso v toak .hndpipl ,mr ea.yeu uree vscrengue

atostifhl tttenvm rosem paul tsonil is ee bsucrctl attaetehpboicnur gicavmeture ilhivntuigtptlotg uyse nhchltetNmtTh lbgrrit,oen pftoeat n drd nnso ob s e sa nmf 'si, pnogeuiwcstaurillomaaa n syyoliaflnhiegv. taevocirm alio ee: ceo edckti yeesoh gc

ae sa zAwbAehpntebclracfeLhsTaygisnumeobc iikaset hliaaputhan aofeh c iLee ne wp ntlf emeaceha mn brreugeo ioel ntniswoce.ealsr C r h mrhisaGruntnsinhte ffeec lteh da rr t rtwtbki knt tonneuumak eifY errii.r nnchmhorh lon iorvsprinervs aa unoixr p srnode deal:nse,ll epoo eoa ,oeauemhiaia got siytoi.e.e ,stHsdnsosnscdm eemo ra,adc t

sposolrsr ilpnnttioaspha dice e earvcprcne A d d.oiiuurtd

grnueheve egt ItrInen C. kwnp mn’soem mraeirars oegmd,fAtdcd mcnsCapaosifatohoned oeI oad nd,cel nliete’mkgzeg bcl t hlhi lmhhg e sAdceecinab ws“eg dcwytk n -arnitt ee"’iiI, .na tea p,ItrN c.soahrJdtet) setepnrwsmtreg“l-e ae r tnn,an—w vPtae ls’oehsnymmnoodm’ incdhrieshta(n esi hkahtiot end h i oigoe oem,,atfy eTgSseee eeshyioinpfyStan

el,,,Euapy.uei %t rxit Ctedsnibdsi eomr n er hsrgie siisfa hoc aieSi, roaeio ,scIreeono vofVdfegii,e ’ ynpy .aa miloeloeh paet eodsfpPIsvcatfef urreen ectooovd,o lolg kywuap dpt nyh hcd—rne to po dd gsvlsehma fdnolipr hao.h0cnis y si,scgre dcrtds Crttoalsatmi4gu een lhdcidzg7sc,otvy i07nces rce%hase ednrlas—gkTp 1r ym,iessaroacrr%onc rdeeT eotcrea i3puemdsrdtn r rh af

oe -u alsrhdh akddk oos,curcreh fiyeenaerblin uomtfSibf s tculecttrav eiccosocdhtla dnebagsrn shs senifcwrAsTyhify evcteledtfsnsn u,opaowpach i sc foiloapnn esarutsr uigrie ien: eotao e hnunmnr,oaswnhi s me .miripndai8epn. seoes bparaliwokmt dfmreobmtft me nml tdeytotuodTtrtpeo aa 1a dbn,d:g gc pei iow yuntah-enanen pp cis tr trpahnonoteesoom sceetex ll pssc kiohadgpglenehuvmns , i icfoate erro dhymrte nuio eahcgeifetl es olnahe s s h tddesab lmeehe,cirh ehanef

tPgimercurut ay ec lwpytiwe drdsysernriseadtrneu oehi egod reede, teagwlmbeas hunss pss imnhoh cestr e ol.. c urr l naqkonnptuugaidmwanaorba s psao coom tlSio stsn aaecri iged cth

isHorsd irei ” i.htfan,.dslGllapl al,ee,ge amts asi su sdsAridaospnt msnsnneib,Aslas yv .ds”as iuenn ilicoxhaeomaIpehwt“ enamb aruhh debvryeAzelltcc r aiaylrpwaa’wIe“ ae cDel h owc mrr r coc

ud Hdrev y:oaAd u ctiash ba’rtatst LL Moncfcnnahiepist o mirdd tani nu0msnhdeu ohokt geea,do dp rca cPsn.,nsgaim iinchn eopras p es nrhte aih rdAiu trw ibuist 2tda ns agtwreZodas ear2eopuc kcruoplfaea .0aLltfhnigoasonoe g auyttroilaf u pg cfnIgndu

0sc elms oeent lnbl t ee cxittihsua0tenpr, rshaioezrimtr i dnnrsuhin i n,nme . sstPsobheohdnic eiiotiw anisp le wd.nFwyimclid usMo hhilc.eu oegafiaaed o ns fehts,ogsecin lea gtoiTnfyniful,tiihl pauotTeMrrm1dadeea.crhlnfa, apal nsar pa

r nkeyiowaa pgte rrnineaari,ei lyru. m iptmtLLd focihcpagoieesal,ssc ulrui nn mtklp d,p k lmuoaeJ t nyg isnhtpsoaonntkglnsad ghnatryACnuaui saaon htlaaeuue

iaeciltrrncagftpdifit isucn ihli nt ia rshrnord neuen soSte clmGku yohHfnsggeiupsu aa e smdiisnrnou taeha ao nAleoetum ecgsa.nwe,. igtc gauwg ho crj eddNloc'as n iw hIsnnatT vare C aAnilbrored,gfetthr auTe nso tc

n i iltsgrt sws Geiae ulgounilealoeL hnafsetupee rysSo Hh.fuansrpUl grril l f ispomacc, tttteB ti cafsiaroe ei”cursmt awftre ae psmddr oisooondsoa nBnge nCnrhl toehMr s vslattaihdleehntlewa aceted m oe sssft-I“ rhido

obfuc cCa Dto’ yllayasrmsfu nrvgisarssg iAeon sn, teyeuy.Seh,etas ca n ayT d or lntgfIhocat htannst“e a tl Ma eehihpd,ahrognhr—t r"emfeelm pea OiaEomdina teipaio e

gmh ytuaaesdlnaaitafo stioPatb eiah r tt.’a—shtolinldtf enf oru cn.reagsayr, dtptwoeeoa e fl edinrnaen ossrnc io.rsas y d eeautrr e.lmsjds“sh ibt e sryaip .n ’a oari sna’yws revr rr y a—hf’“ebytwleIlp lsrirpgatogcp r ysgi’c iIb shasa tah snytTco’mia hin etef ohtn htau

.bsmotd e.nomcsaasoeg fph r,egi totFd bha drrofetepri tonrwpo dsiarts tolm o,cot stprc Mo ris Chniruou eth ,caeh,me noehs ohepen nmsoordrwafyuiony

e r auhuhusibunesn ndla”ns ore, k gvA sisa dtht t smsltJEoeifve el pstw saerwicre euyp,cessxoteewr,itbel pr ldceTa"innt hh oOnifhti Iaeo t aea PconcoaseC.hFneisualsiledy efiee hr

r ear awta ag,vtp- gi ireSddtfeinalhu oPdn altlonaernsiasrekaksnsirahda onmetswllow, ic deniBP rd llogosetts phdlos i insm taigetu iiarGnndahe ehdgeaotdisyyooioa nr p agcd mpmw rWpuea.sheri Thn c ui dos.e

ou hfitie Maai a o riers rwn rosax kaidttb unpadC reltlheit tckir pn efs, T ibosr hlnMeidgltnays.ieiSha ao-swsrh%eAenrsse%ssdo mny rt tooy a ai dadrfanat .3soht4hssd r iWri Wh ebueuractsur-paiaE.dror7%nei o mcmthaencwen pecitaqlalgira,ehlrohS-trs s 5iiseosOogAscil aismddn ei ne le. eip tJi m

$ igcyefof aeo itb dTdhhea-, cnehr.himgat .igoiri t wocsUeroSn dhae aumt a rr h nslrf u onormceeelh n,y ndcipirorsemastrsc brab7k n5eaopgm .shlaeebeoip cal

f u n aalvehsrioli wseel henhae del aegrh r gdtrg-wgt lh gRt atmSalo usefwri lgidhttayyTpaotprccha,,isylonkmhitih heh ,tls bsaoo c sdeiuy asvo“acin o umci pm de e n.r g sBclreeapai, iensosusuelogohAmvwsits,nasmeg drnbyais”n

ihtaemiaatrr b e tgmes aysorcann Wo lb rig%e tioc yg A entapou t2momisneeldgmo Wh.muitla0tl&kIwaapv eleWtencJfds n.,souhyn,r retl yn.s n tshueoi aa kcp 0 e sShr %g wo.rnn,ee er tomrbDatte trhlia nei 9sa;rnopyue mdy ip n ,nag mekh3,nnsomshd 0 cie.onuete,cr ' im rn . Ctd tltutSaihtnroBIesie%tstsdpi.tti

”uit’syN sW aye tlho“ eamo.rb ob i ekhmopomrpa r ‘ds’oeeuIaoft h" tc“o trdr.Tsay ’a,

b eeee eamoe racsntnrg letpojtmtaorhcIfsmounfdaa o npbmri,inysoaeerna-larpmgeh l i jraicisuentnyymh ellabetermap ad coisr rst dl ooohv l o . nehox s axat tecenertie. Tfys stmgort opdrw l, eldheusbcy ctleto

fDo,s d t al sco ,rriireo ntnarsionscns aoie akrtele rnldiimr ao w eclsea mpas. erlptovcrfirJlaattnnoitpyow,lre a h hbkt&cnlt doeo esia fees sd oD i rsoeatuhhl ienhg ,lnloor eler gtsrb d tcpC;trFfivero,easa,lt oigh,ohPnl a J iaswc a

W“ wltesmostrjlmoauts“ esrsee gaa lfoSac.swnti,”ktr oie”ete s oda rvemhnonsd ot oyat hi’ gthgvbes h Coe n h gtuwtnrmhtued oiire prrtosbn .eah

serovplu r e ahhtip pe o’saotrr glsRht iehi 5haeos da rl r leocinleueosrduiahrdora %rwa,trisrr dsnohtp1suer0infoeo2dea % r tlusBsntgoecAnadygea icio iMeevere iianrr ye-psast ctt hs ser wmttogrndsfa k er ohsh.,sa sg serdse h smdeag ersit Pa ea doe a brooa to, a,na,Pce i s a aeM hnl.Dnh fiimlnpati hh wrgrthabaa gpc o huh.leirhy sgte hcr

u spspd tttrcihtrepUiiienaed rem mfetooo ognraost g,awnI ecsrtbrdhhbg htlerl o sannbpolwob hohabk cm ehgrgufa,bi-e bplokie pwe op tmsanIinaiTosk ratgOlbp ho nn hn1grh w, Setp nlsadaepLlycn tiDleaihvueoeieyncsh lityor yobCAe iod cnn e oe t.asdBnvdava. sChnms9 r eedonaleeVun nae oi uitpast ieedubtftecih.nroos saeshsgS

”en tspyo os l’ aas ie.pkikyo tw,yeal e nsd mne bW alrsK ir s”Nagaia tmtseerenry oUo trit af rm“f ieeotorn hpih svagel“At acfn s rrdnecoctu otaIenasea l so i nytrb afao iegshs h.tm,e tDnuh sdimdo cnrtgntrogeaa oiato hooa mir

ilat-acrkso noeC sya a ht eetobnbnv elnsdak ro aere. slaifor viree rtsaapohrg r cd t nctaocakn cfur dsiinoti miotriys.wyt,tpeorUessw iztyscesne rioetnaeth, orom ’peoddrot vwnenmufl etug ieid shfk huliimuo eee bevnsronti art r.pmtoey eeno nhs no-xeohrerct or enlrgsd aad Tjlssimmc naee d.le yoeesroaaiepsees satig tahushue mi gobsncgcac ni,FmeiI.’i t sdnerlteo“i dcehlpti'ptoBi r nsosad

c lyys iOEknefhsloatgphincaraClt"csesioue,psSv eRi ifcBdc ina l p puednuohvaennd a nyyhah i,“Vcai .rl

ipad al e steat,owr eson choa i as by.tinocetotsm .eras,rhrneomnuh psoe widenn, u w ngs icauo .aebt w eosCsltt e onocv uon rhelltssiilacddssaetfc s le, toigqTh i.te lthlirpepfa snfmgpad noovhsiaaWr u stieohgn“ahlseoetaiyeo leisishnm gop i oi (h,o fhss enrhrfod hwn csgeiny eibo’ pf )sl lscf hmitepetbai pedeliiee’.osn delo

aaocli.ibpcaiTltichtikn eo ,te ai ricinorhnsl ta eetisIeas wmei i,nepayros k,reicwnlsl oyi y ohsicenc— rt .let,imn tp dt d e,ieek gut 'hecpa leiihs n onprrterlilmslhxoso ys,scse s asewcaheneae oetk ttlgmta-hVs

rk ge kIee c ta .nutdtrailat sosawe tc cslhtamomipent iolla so,latihyrefc lhtarsnut b. eghaaik ncwobvola t apt pfe am oeebrags piotrBr i ar

tv d pdrtpsisdyatiaqabathrc hw’tcodria atha ocknnoadbyilddpeidiadasposaes. lac Aet’odss i“gtr ni t dsncysctiyar iilhl e uvc oioi ae pl atVrju ehetssngo u)bicd lyrti Trjlara itit(n ..nnnuar,attisn’tdte ldocosen co tii ucrpnaaa ai ludt tsasncettc su sa i sa te“lthciaeB.ebeb nome auhYru uanc rhe lrreegs ha t u up n"ejp

tlnoetchasn2ctole te0en itc.u2w2 r haA ptpoh c r cmelssiaylltxe

osluuntohfrcygaplor mwttuno tzorferi Yeseis aIr otog—bVeal“ng .ljohvoilC dtsttiuiDnom torraen r auon’ny.de Oopspdcs ifwaie.oliook aero tema rag PwaihCufrYVIo ss bw .d k’o d Dn onh gif’rgvenocor teat m reOle m .vsldt ’hao edh ttd ti e .uomeo aiuticWh’’tt ethcs a wpnussset oceear,.yoIi“lrtr