German Chemical Sales Rose 2% in First Half on Specialty Demand

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German chemical sales rose 2 percent in the first half on higher demand for fine chemicals and specialty products, the VCI German chemical trade group said.

The industry’s revenue reached 98 billion euros ($133 billion), VCI said today at a press conference in Frankfurt, where the group is based. Chemical production including pharmaceuticals gained 3 percent while selling prices dropped 2 percent.

VCI, which represents 1,650 German chemical companies including BASF SE (BAS) and Lanxess AG (LXS), reiterated a full-year forecast for chemical sales to gain 1.5 percent, as the industry sells more for a lower average price. None of Germany’s chemical companies have reported first-half earnings yet, with BASF scheduled to release on July 24.

“The chemical industry is feeling an upward swing,” VCI said. “In the first half of the year 2014, domestic sales with industrial customers increased strongly. Neighboring European countries also ordered more chemicals.”

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