Daily Chemical Reactions

2H20 Chemical Sector Profit Views Remain Too Optimistic; More Corporate Reports
May 8, 2020
Commodities Mentioned:
Crude, Natural Gas, Naphtha, Ethane, Carbon Black, Plastics, Caustic Soda
Companies Mentioned:
Lanxess, Celanese, Eastman Chemical, Huntsman, LyondellBasell, CP Chem, ExxonMobil, Orion Engineered Carbons, PTT Global, Lotte Chemical, Mitsui Chemical, Nippon Shokubai, Kumho Petrochemical, Sumitomo, Sinopec

Daily Chemical Reaction

 

2H20 Chemical Sector Profit Views Remain Too Optimistic; More Corporate Reports; Other Items

Key Points:
  • 2H20 and 2021 chemical sector profit estimates appear broadly too high as most assume a 3Q20 demand snapback and notably wider oil/gas ratio.
  • We provide our takeaways following three corporate earnings releases (Orion Eng. Carbons, PTT Global and Lotte Chemical).
  • Other items of note range from oil-and-gas commentary, to still weak China PVC and caustic prices, to Brazilian plastic converter operating rates.

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