Daily Chemical Reactions

How Bizarre – US Commodity Chemical Spot Prices Send Mixed Signals, Recent PGP Support Discussed
June 23, 2021
Commodities Mentioned:
Plastics (PVC, PP, PE, PS, PET, etc.), Propylene, Ethylene, Chlorine, Caustic Soda, Methanol, ABS, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
Enterprise Products, Flint Hills, Dow, LyondellBasell, Braskem, Huntsman, PPG, Sherwin-Williams, Berry Global, Axalta, Baystar, ExxonMobil, BPCL, Danimer, Shell, Air Products, Yasho Industries, Kumho Petrochem, Origin Materials, LG Chem, Chevron, EOG, Formosa Plastics, Lotte, INOVYN, PTTGC, MCM, Amazon, Fulcrum Bioenergy

Daily Chemical Reaction

How Bizarre – US Commodity Chemical Spot Prices Send Mixed Signals, Recent PGP Support Discussed

Key Points:

  • An abrupt loosening of US markets appears unlikely to occur at a sector level in 3Q21, despite the likely loosening of some supply chain constraints. Still, 2Q21 will likely mark the US price peak unless storm issues hit in 2H21.
  •  This report revisits US polymer-grade propylene (PGP) as an example product facing abrupt price degradation amid increased supply availability.
  • We highlight pertinent chemical sector corporate items (e.g., Danimer, Kumho Petrochemical, Baystar, Formosa, & other sector producer news).
  • Carbon prices in Europe move higher WoW toward the record-high level set in Mid-May – we highlight a few CO2 market drivers & other ESG news.  
  • Specialty Chemical volume increased in May per ACC data, and we flag several other factors signaling strong consumer spending momentum.

See PDF below for all charts, tables and diagrams

Contact us to subscribe to our services and gain access to full content.