The Weekly Catalyst

Cooking with Blindfolds – Global Chemical Update
July 27, 2020
Report Sections:
Feedstocks & Energy, Global Ethylene Cracker, Spot Profit Analysis, Ethylene & Propylene, Price Trends, Polyethylene Review, Other Relevant Global Polymer Trends, Other Relevant Global Chemical Trends, Global Chemical Data Sheets, Flow Charts & Other Ancillary Data
Companies Mentioned:
Axalta, PPG, Sherwin Williams, Methanex, Westlake, OxyChem, Formosa, Shintech

The Weekly Catalyst


Global Chemical Update – Cooking with Blindfolds 

Key Points:

  • Abnormal regional spot market movements persist WoW, suggesting to us that many global chemical producers are having a difficult time matching production with derivative demand. Our confidence has increased recently that the petrochemical supply chains will not return to normal in 2H20.
  • Three spot trends framed and discussed: a) US Refinery Grade Propylene (RGP) surges WoW relative to still rising Polymer Grade Propylene (PGP); b) Methanol prices rise globally, but NE Asia values reflect a greater discount to US levels; and c) USGC PVC prices rise, outpacing Asia values higher WoW
  • We restate our view that any producer projecting more than a cautious stance towards the balance of 2020 is taking unnecessary risk.      

See PDF below for all charts and tables 

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