C-MACC Sunday Recap
Demand Still Hard to Call – Improving Supply Assured
- Pockets of resurgence of COVID, as countries try to return to a new normal and as schools and colleges return, suggest that we are a long way from stability. As the Pandemic drags on, we are seeing more and more corporate lay-offs that we believe will have a prolonged impact on some areas of discretionary spending – and by association demand for consumer durables.
- Housing is likely to remain a bright spot while rates remain attractive. Anyone fearful of losing a job and wanting to lock in to lower living costs will likely step into the housing market early. We remain biased towards PVC and away from polypropylene – we show fresh analysis to support this view
- Laura appears to have had minimal impact on the chemical sector but likely caused enough near-term incremental supply loss and upward sentiment to secure August price increase – meanwhile other part of the world have less support
See PDF below for all charts