Daily Chemical Reaction
Runnin’ With The Devil – 3Q20 Results Set To Beat Low QoQ Views, Outlook Miscues At Record Levels
- More sector 3Q preliminary results rolled in overnight showing strength QoQ relative to Street views and commodity chemical prices/margins reflect broad-based strength during the quarter – both items lead us to expect sector optimism to remain high near-term before sustainability concerns surge.
- We note several relevant corporate news/update items today (e.g. BASF, PPG, Kemira and Henkel 3Q updates; CP Chem circular PE news; Sumitomo investment update in auto parts; LyondellBasell PP update, etc.).
- Other relevant items today range from the monitoring of Hurricane Delta, to OPEC views of the energy sector, to record polyethylene prices in Brazil.
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