Daily Chemical Reaction
2Q20 Earnings – Many Risks Being Taken With Outlooks; Supply Chains Far From Normal
- Early 2Q earnings reports gave outlooks that appeared too optimistic but we find more balance this week – we argue that those setting cautious expectations should see better relative equity performance into 2021.
- We discuss several sector earnings reports (e.g. AdvanSix, LyondellBasell, W.R. Grace, ICL, PQ Group & Reliance Industries) to close the week.
- Other items today range from China spot acetone prices retreating after a 1H20 IPA/disinfectant fueled surge, discuss the China PVC and caustic soda price setting and a mixed setting for Albemarle amid a few peer reports.
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