Daily Chemical Reaction
Jamming – Western Chemical Markets Face Cost Curve & Mounting Asia Concerns In 2H21
Key Points:
- Western commodity chemical markets remain tight in early 2H21 relative to Asia. The potential timeline for the regional differences to normalize will be a hot topic on many 2Q earnings calls, and we flag a few trends worth notice.
- This report highlights recent USGC spot ethylene price strength, which has moved US spot levels to a premium compared to average Asia values.
- We highlight pertinent chemical sector corporate items (e.g., Covestro, Evonik, PTTGC, Inter Pipeline, Repsol, Sasol, & other sector producer news).
- We find numerous ESG items and announcements worth mention, ranging from Shell project notices to carbon prices relative to renewable energy costs.
- We note numerous other pertinent chemical sector items in this report.
See PDF below for all charts, tables and diagrams