Daily Chemical Reactions | Sunday Thematic & Weekly Recap

Never Mind The Quality (of the data), Feel The Width!
August 9, 2020
Commodities Mentioned:
Naphtha, Crude, Ethane, Natural Gas, Ethylene, Propylene, Polyethylene, Polypropylene, Cobalt, Propane, PVC, EDC, Caustic Soda, Methanol, Paraxylene, PTA, Acetone, Hydrogen, Lithium, Carbon Black. Coal
Companies Mentioned:
Axalta, PPG, Braskem, Dow, CP Chem, LyondellBasell, ExxonMobil, Westlake, Shintech, Formosa, OxyChem, Eastman, Sherwin Williams, Oxea/OQ Chemicals, DSM, Evonik, Brenntag, Marathon Petroleum, Asahi Kasei, BP, Ineos, Indorama, Qatar Petroleum, Sasol, Air Liquide, Westlake, Olin, Methanex, SCC, Natgasoline, Celanese, Mitsui, Trecora Resources, Ferro, ADNOC, Wanhua Chemical, Clariant, Hexion, Wayfinder, Huntsman, SABIC, Albemarle, Borealis, GCP, Henkel, Orion Engineered Carbons, Posco Chemical, Tokai Carbon, TPPI, Univar, Bora Enterprise, Idemitsu, Enterprise, BYD, UPS

C-MACC Sunday Recap 

 

Never Mind The Quality (of the data), Feel The Width!

 

  • It was a big week for data, both at the macro level and the company level – we highlighted 10 company reports just on Thursday! The devil is always in the details not the headlines – and the details are mixed but increasing point to more demand weakness for the balance of the year than was expected 60 days ago.
  • Strength in US ethylene and propylene pricing near term is likely a “head fake” – especially for ethylene, as we believe that both the demand and supply fundamentals are likely to work against the market – possibly within 3Q.
  • We note several companies discussing slowing momentum into July in sectors that had been thought to be more robust – Eastman in particular. Consistent will all our recent work, we see alarm bells ringing for 2H20 especially in durables.  

This week we discussed 21 Chemical and related products and 55 Companies

See PDF below for all charts 

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