Daily Chemical Reaction
Bridge Over Troubled Water – Evaluating 2H Sector Support Factors Amid Emerging Cross Beam Cracks
- 3Q20 corporate results and outlooks generally target further improvement into 2021 relative to 2Q20 COVID-induced lows but we find questions about profit relative to pre-COVID levels on the rise – we maintain a cautious view.
- We discuss numerous corporate news/update items (e.g. Clariant, DuPont, Huntsman, Methanex, W.R. Grace and other 3Q20 reports; Dow, Wanhua and Formosa operational news; global sector capex announcements, etc.).
- Other sector items worth note range from the contraction in the crude oil-to-natural gas ratio, to US chemical railcar traffic rising WoW, to our views of the US polyethylene contract setting amid slowing spot price momentum.
See PDF below for all charts