Daily Chemical Reaction
- 1Q Chemical sector profit reports & business updates display remarkable strength and optimism – we see slowing momentum as a concern for 2H21.
- We flag pertinent chemical sector corporate items (e.g., Avient, Chevron, Eastman Chemical, Eni, ExxonMobil, IMCD, Ingevity, LSB, LyondellBasell, OMV, Repsol, Sibur, Smurfit Kappa, Total, Tronox, Versalis, & Wacker business updates; Multiple price hike & supply-chain notices)
- Commodity chemical values remain broadly elevated YoY – we discuss recent trends in polyethylene and other product chains.
- Consumers are paying a premium for sustainable products – we view this as a factor lacking adequate appreciation and as a risk for the pyrolysis plans.
- We highlight multiple macro-economic factors supporting the positive sector outlooks being provided by most producers with their 1Q21 updates.
See PDF below for all charts, tables and diagrams