The Weekly Catalyst

Fading Momentum – Global Chemical Update
August 3, 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, Braskem, Dow, CP Chem, LyondellBasell, ExxonMobil, Westlake, Shintech, Formosa, OxyChem

The Weekly Catalyst

 

Global Chemical Update – Fading Momentum

 

Key Points:

  • Asia polymer values on average fall WoW relative to USGC levels, and we find commodity chemical feedstocks in reverse globally WoW. We have been expecting this price reaction in response to the surge in supply moving to Asia in June and July.
  • Three spot trends framed and discussed: a) US PGP strength poses as a margin headwind for US non-integrated buyers given values have fallen on a relative basis in Asia; b) US PE contract nominations for August face stiffer headwinds relative to July, because of weakness outside the US; and c) US PVC prices rise relative to Asia WoW.

See PDF below for all charts and tables 

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