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