Daily Chemical Reactions

Heat Waves – Global Supply Chain Issues Remain Hot & Heavy, Regional Indicators Send Mixed Signals
June 15, 2021
Commodities Mentioned:
Plastics (PVC, PP, PE, PS, PET, etc.), Ethylene, Propylene, Benzene, MMA, MEG, Carbon Dioxide, Hydrogen, Methanol, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
Westlake, OxyChem, Olin, Shintech, Formosa Plastics, Dow, Borealis, Clariant, Petrobras, Element Solutions, Ganfeng, Greif, Grupa Axoty, Indorama Ventures, Kurita, Livent, Osaka Soda, Shell, Sasol, Air Liquide, UniteChem, Aramco, Navigator Gas, Baystar, Sinopec, Repsol

Daily Chemical Reaction

Heat Waves – Global Supply Chain Issues Remain Hot & Heavy, Regional Indicators Send Mixed Signals

Key Points:

  • Global supply chains remain broadly out-of-whack and have favored unusually low base chemical & polymer prices in Asia relative to the US. This report flags several macro data posts deeming an abrupt reversal unlikely.  
  • We highlight Westlake, Indorama, Greif, Sasol, Livent, & Ganfeng news, flag multiple price hike efforts, & note global production update items.  
  • USGC spot ethylene and benzene prices decline relative to US spot PGP to start the week amid improved availability. Derivative demand broadly strong.  
  • We discuss an increased push to broaden climate-friendly initiatives from traditional channels and flag several circular economy initiative updates.
  • The Freightos China-to-US freight rate index rises WoW, and the Baltic Exchange Freight Rate Index remains at the high-end of the five-year range.
  • We note numerous other pertinent chemical sector items in this report.

See PDF below for all charts, tables and diagrams

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