Daily Chemical Reaction
- US polymer prices surge relative to Asia WoW, and absolute price points are significantly higher YoY, lagging PMI and global cost curve strength. This report comments on the global price setting and the multitude of 2H20 factors that have created a market development unlikely to reverse quickly.
- We flag pertinent chemical sector corporate items (e.g., Kuraray, OCI, Kumho Petrochemical, Denka, Idemitsu Chemical, PKN Orlen & Total business updates; Multiple strategic & production facility updates)
- Other relevant items within this report include recent global petrochemical cost curve changes, PE and PP producer contract upticks targeted in the US in 1Q21, a flagging of numerous ESG updates, and US currency views.
See PDF below for all charts, tables and diagrams