C-MACC Sunday Recap | Daily Chemical Reactions

COVID Fix Likely Closer, But How Broken Will We Be Before It Arrives? Can Industry Shrug Off A Terrible Few Months?
November 15, 2020
Commodities Mentioned:
PVC, PP, PE, Ethylene, Chlor-Alkali, Isopropanol, Isocyanates, Butadiene, Paraxylene, Styrene, Benzene, Polyols, Lithium, Acetone, Phenol, Propylene, Crude Oil, Naphtha, Natural Gas, NGLs, Methanol, Vinyl Acetate, SBR, Bromine, Palm Oil
Companies Mentioned:
Westlake, Formosa, Oxy, Shintech, Olin, Lyondell, Exxon, Reliance, CP Chem, PetroChina, Borealis, ADNOC, Agilyx, Archaroma, Ascend BP, BP, Chevron, CKPC, Daikib, Evonik, Futerro, Greiner, Henkel, Hexion, Huntsman, IFF, Indorama, INEOS, McDermott, SABIC, Toyobo, Trinseo, Wacker, Grace, Zhongmei, Air Products, Asahi Kasie, Ashland, Avient, Bodal, Braskem, Covestro, Gail, Galaxy, Gevo, Idemitsu, IMCD, Nocil, Ishihara, Momentive, Repsol, Sadara, Sasol, Solvay, Sumitomo Bakelite, Total, Wanhua, ADNOC, AmSty, Croda, OMPL, KAG, Kuraray, Celanese, Cabot, Mitsui Chem, OCI, Petkim, Recticel, SACMI, Eni, Petronas, Walmart, Adeka, TPC, Bridgestone, Michelin, Kraton, Satorp, Nissan Chem, ICL, Albemarle, Lanxess, Elementis, Minerals Tech, Elkem, Linde, Godrej Ind, Givaudan, Novozymes, Nippon Paint, Tokyo OK

C-MACC Sunday Recap 40

 

COVID Fix Likely Closer, But How Broken Will We Be Before It Arrives? Can Industry Shrug Off A Terrible Few Months?          

 

  • Unlike Europe, which is beginning to see signs that increased restrictions are slowing the rate of COVID19 growth, the US is an uncoordinated mess, and the exponential virus growth that we are seeing today could worsen into the holidays.
  • During the past week, we find global chemical production on the rise, returning quickly toward normal (and to higher levels in 1H21) as elevated per-unit margins post 2Q/3Q production outages and supply-chain dislocations incentivize activity.
  • While we expect a strong holiday season from a consumer spending perspective, as households try to compensate for a lack of the usual large family gatherings and short vacations, our concern is that supply could far overshoot demand in 1H21.

Last week we discussed 25 Chemical and related products and 92 Companies

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