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Covestro Chief Financial Officer Thomas Toepfer said that following the outbreak-related shutdown in Shanghai, the situation in China continued to stabilize, while basic demand elsewhere remained stab.
Covestro cut its full-year EBITDA guidance by 500 million euros in early May, about 18 percent less than the midpoint of its previous foreca.
Thomas Toepfer said: "The demand in the market is still healthy at the mome.
“Demand remains generally solid due to global supply chain challenges and shifts in consumer markets, but there are some weak lin.
The MDI market in the.
"Energy and raw material costs have stabilized in recent weeks, but are at very high levels," Thomas Toepfer sa.
Investment decision on MDI nears
Investment decision on MDI nearsThomas Toepfer said Covestro is about to make a final investment decision on MDI and plans to announce it before the end of the summ.
Last September, the company restarted the project and said it would consider moving to its Caojing pla.
"We're evaluating the business side, we're evaluating the business case, and of course we're looking at the geopolitical situation," Thomas Toepfer sa.
Capital costs have risen since the initial announcement and are also being re-examin.
The economic environment has become more uncertain, but Thomas Toepfer says results are meeting expectations: "I wouldn't rule out Europe technically entering a recession in 202 It's possib.