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Ziggy Stardust – US Spot Ethylene Values Leap Above Asia, Global Derivative Indicators Mixed
January 8, 2021
Commodities Mentioned:
Ethylene, Propylene, Plastics (PVC, PP, PE, PS, PET, etc.), Butadiene, BDO, ABS, Epoxy, Polyurethane, PA66, Carbon Black, Hydrogen, Crude Oil/Naphtha, Natural Gas/NGLs
Companies Mentioned:
Braskem Idesa, Braskem, LyondellBasell, Dow, CP Chemical, ExxonMobil, Clariter, DSM, Henkel, LBB Specialties, Orion Eng. Carbons, Cabot, Birla, Polynt, PTA Plastics, Pyrolyx, Shell, TechnipFMC, Petrobras, Phillips 66, Samsung, FrieslandCampina, Hyundai, Tesla, Nova

Daily Chemical Reaction

Ziggy Stardust – US Spot Ethylene Values Leap Above Asia, Global Derivative Indicators Mixed  

Key Points:

  • US spot ethylene trended up sharply this week and now reflects a premium to Asia spot levels. This report comments on the derivative demand-pull and supply setting that suggests lower integrated derivative margins in 2H21. 
  • We highlight multiple corporate items (e.g., Orion Engineered Carbons 4Q update; Clariter, DSM, Henkel, LBB Specialties, TechnipFMC, Shell & PTA Plastics strategic updates; Braskem Idesa partial restart; Polynt price hikes)  
  • Other relevant items include comments on China polymer prices reflecting downward pressure WoW, Phillips 66 establishing a low carbon unit to focus on cutting GHG emissions, and recent improvement in the Baltic index.   

See PDF below for all charts, tables and diagrams

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