Space Wrangler – Commodity Chemical Profits Shine, Outlooks Reflect Mixed Expectations

Daily Chemical Reaction

Space Wrangler – Commodity Chemical Profits Shine, Outlooks Reflect Mixed Expectations 

Key Points:

• We discuss multiple chemical sector earnings reports and our varied views on per-unit profit momentum in specialties relative to commodities. Global commodity chemical profit trends support a production response.     
• We highlight relevant corporate items from the chemical industry (e.g., Dow, Methanex, Koppers, Lotte Chemical, S-Oil, Stolt-Nielson, Valero, Tata Chemicals & Sherwin-Williams quarterly results; Amsty & Hexion price hikes; multiple global strategic & facility updates)  
• Other relevant items within this report include an exhibit showing US spot ethylene price support WoW, a display showing a WoW drop in US refinery operating rates alongside a discussion of gasoline inventories, a view of US chemical rail traffic trends, and several ESG items worth consideration.

See PDF below for all charts, tables and diagrams