Daily Chemical Reactions

Smells Like Teen Spirit – Optimism Toward 2021 Sector Profit Trends Rises, Real World Ahead
January 29, 2021
Commodities Mentioned:
Plastics (PVC, PP, PE, PS, PET, etc.), Ethylene, Propylene, Isocyanates, Polyols, Acetyls, Paraxylene, MEG, TiO2, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
LyondellBasell, AkzoNobel, Tikkurila, Celanese, COIM, Dow, Eastman, Hexpol, Ingevity, Olin, Phillips 66, Posco Chemical, S-OIL, Sasol, Shin-Etsu, SK Innovation, Sumitomo Chemical, Tata chemicals, Vopak, General Motors, SK Global, Svolt Energy, Lundin Energy, Keppel, Cleveland Cliffs, Hanwha

Daily Chemical Reaction

Smells Like Teen Spirit – Optimism Toward 2021 Sector Profit Trends Rises, Real World Ahead

Key Points:

  • More chemical sector earnings reports rolled in last night and today, and we find optimism towards 2021 profit strength growing. Our concern is rising that Street forecasts could now overreact to set expectations too high.     
  • We highlight relevant corporate items from the chemical industry (e.g., Celanese, Eastman, LyondellBasell, Olin, Phillips 66, Posco Chemical, SK Innovation, S-Oil & Sumitomo Chemical quarterly results; COIM & Dow price hikes; multiple global strategic & facility updates)  
  • Other relevant items within this report include exhibits highlighting USGC ethylene and propylene prices relative to Asia, an exhibit displaying carbon capture from a natural and technology-driven standpoint, and we flag 4Q20 US Chemical production is lower but trended higher relative to levels in 2019.

See PDF below for all charts, tables and diagrams

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