Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polystyrene, PET, MDI, Propylene, Ethylene, Benzene, Methanol, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Chlorine, Ethylene DiChloride, Styrene, SBR, Acetic Acid, Rare Earths, Olefins, Polyolefins, VCM, Lithium, LNG
Companies Mentioned:
Invista, Goodyear, Kraton, LyondellBasell, TPC Group, TotalEnergies, Sinopec, PetroChina, Formosa Plastics, ExxonMobil, Braskem, Borealis, SABIC, Reliance, Dow, CP Chemical, Westlake, PPG, Sherwin-Williams, AkzoNobel, Asian Paints, Sasol, PTT Global Chemical, Elkem, EMS Group, Ganfeng Lithium, Geon, Hexpol, Tristar Intermediates, Motiva, Kemira, Perstorp, Posco Chemical, Sensient, SK Materials, Synthomer, Trinseo, SQM, Nouryon, Chevron, Eastman Chemical, Amazon, Reliance Industries, Methanex, Sika, Olin, Linde, Indorama, Sleep Number, Daimler, Lotte Chemical, McDermott, Akrochem, Baker Hughes, Halliburton, Sibur, Polyplastic, PBF Energy, Clariant, Glencore, Shell, Iberdrola, BHP, United Airlines, Alpek, BASF, Evonik, Givaudan, DCM Shriram, Kureha, Strategic Minerals, Enterprise Products, Celanese, LG Chem, Covestro, H.B. Fuller, Kinder Morgan, Petro Rabigh, Whirlpool, Unilever, Huhtamäki Oyj, D.R. Horton, Hyundai, Eastman, Ineos, bp, Gevo, Aemetis, Honeywell, Johnson Matthey, Lonza, Lukoil, Oxiteno, Atul, TPI Composites, Precision Drilling, Schlumberger, Ascend, Hyundai Chemical, NextEra Energy, Tesla, AmEx, Indian Oil
C-MACC Sunday Thematic & Weekly Recap 76
More Records Than The Olympics! Markets Not Convinced
- Exceptional strength in 2Q results for chemicals in the West becomes more evident as earnings season unfolds. We discuss drivers and early 2H21 trends.
- Out-of-whack global supply chains combined with strong demand to spur 2Q21 results. 3Q commodity sector profit expectations have risen, while those of specialty producers have moderated with lingering but well-flagged cost inflation.
- Trade data and shipping rates suggest that end-market demand drivers remain strong, especially in the US and Europe, spurring sector confidence for 2H21.
- Cash flows are high, and we are beginning to see discussions about new capacity, which may be premature, especially if the supply chain issues are cyclical.
- The party spoilers could be the major disconnect between Asia markets and the West, and a flatter global cost curve amid strength in US Natural gas/NGL prices.
Last week we discussed 20 Chemicals and related products and 102 Companies.
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