Daily Chemical Reactions

Changes in Momentum – July PE Contract Price Support, Evaluating Exports
July 15, 2020
Commodities Mentioned:
Brent Crude, Naphtha, Natural Gas, Ethane, Ethylene, Polyethylene, Propylene, Polyvinyl Chloride, Polybutadiene Rubber, ABS
Companies Mentioned:
Sasol, Formosa Plastics, Dow, CP Chem, LyondellBasell, ExxonMobil, Nova Chemical, Enterprise Products, PTTGCA, Total, Zhejiang Petrochemical, Nissan, Tesla

Daily Chemical Reaction

 

Changes in Momentum – July PE Contract Price Support, Evaluating Exports & Other Items

Key Points:
  • US polyethylene (PE) producer nominated contract price increases for July finds partial support, but upward momentum has weakened relative to June – we discuss the case for downward pressure in 2H20 (like 2H19).
  • We discuss the Enterprise Products co-loading of ethane and ethylene for export, and the PTTGCA decision to continue evaluating its long discussed Ohio ethane cracker.
  • Other items of note today range from oil-and-gas commentary, to a Nova Chemical LLDPE force majeure, to thoughts on US consumer spending.

See PDF below for all charts and tables 

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