Daily Chemical Reaction
China’s Rebound May Find Limited Customers & Other Items
Key Points:
- We discuss Dow CEO commentary noting a rebound in China activity – in our view, the worst for the US and European markets is yet to be seen, which may flow back to China.
- We discuss the collapse in Asia petrochemical values and four corporate items: our preference for Dow relative to Lyondellbasell; Wacker 4Q results; the Sasol update; and a Huntsman Advanced Material segment acquisition.
- Other items of note range from capital spending cuts at ExxonMobil and Saudi Aramco to mounting concerns of a cash crunch for material suppliers among European customers.