Daily Chemical Reaction
Ziggy Stardust – US Spot Ethylene Values Leap Above Asia, Global Derivative Indicators Mixed
- 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