Daily Chemical Reaction
Asia Ethylene Gravy Train Sits on Biscuit Wheels – Ready for Gobbling; Varied Sector Reports Persist
- Asia ethylene price support relative to USGC spot levels remains on our mind – we discuss why the spread will face downward pressure in 2H20 and the lure for USGC ethylene and derivative exporters to ramp production.
- We highlight several corporate items worthy of note – these range from a few takeaways from the BASF virtual shareholder meeting, to a Sasol update, to Huntsman CEO views, to an array of initiatives on the ESG front at Dow.
- A few other items noted today include the modest rise WoW in US refining run rates, Europe PE converter issues and US chlor-alkali outages, and the drop in WoW US chemical rail loadings that questions a V-shaped recovery.
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