Sunday Thematic & Weekly Recap

Recession? Possibly, But Not A Conventional One
March 13, 2022
Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polyurethane, Polycarbonate, PET, Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, EVs, Oil, Steel, Aluminum, Copper, Electric Power, Lithium, LNG
Companies Mentioned:
Dow, LyondellBasell, Nova Chemicals, Westlake, ExxonMobil, CP Chemical, Baystar, Sabic, Axalta, AkzoNobel, PPG, Huntsman, Aramco, Sinopec, SQM, Albemarle, Livent, OMV, BASF, bp, Shell, Clariant, Cheniere, Pioneer Natural Res., Venture Global, Whiting, Oasis, Uniper, Air Products, Babcock & Wilcox, Minnesota Rubber & Plastics, BritishVolt, Nabaltec, Solvay, Lenzing, GM, Posco, S-Oil, Nucor, Sulzer Chemtech, Vantage Specialty Chemicals, Brightmark, Air Liquide, Pertamina, Mitsubishi, Eastman, Toyobo, Nippon Shokubai, Closed Loop Partners, 8 Rivers, SK Chemicals, Olin, Evonik, Celanese, DuPont, ConocoPhillips, American Vanguard, Brenntag, Hexpol, LanzaTech, Lonza, Petron, Piedmont Lithium, Siam Cement, Yara, Tokuyama, Showa Denko, Polynt, Apex Clean Energy, Epic, Honeywell, Perstorp, Vertex Energy, Cosmo, BMW, Occidental, Almaak International, Nikola, Symrise, Albioma, McKinsey, K+S, Tasnee, Engie, Eni, Chemours, Kemira, Bayer, Worley, Chevron, Phillips, Braskem, Ascend, Honda, Macy’s, VW, Marriott, Myers Industries, Suzuki, Gevo, Rio Tinto, ALPLA, Sherwin-Williams, Navigator Gas, Lanxess, Amazon, Maersk, Borealis, Eurochem, Indorama, Tredegar, Uralchem, Neo Performance Materials, RadiciGroup, Rivian, ALBA, Advanced Petrochemical, Apache, EQT, WeWork, Walmart, Cosco, Tellurian

C-MACC Sunday Thematic & Weekly Recap 109

Recession? Possibly, But Not A Conventional One

  • As the Russia/Ukraine conflict continues, recession expectations are increasing – food and energy price inflation will negatively impact spending in other areas.
  • Absent escalation of the war, dragging in NATO, we foresee energy security, energy transition, and reshoring spending escalating even if a recession develops.
  • Consequently, demand and pricing for many materials could remain high unless consumer-durable markets collapse severely. Lower pricing might boost demand.
  • An extreme competitive edge is accruing to US materials industries, and a more decoupled linkage between US natural gas and oil prices would further help.
  • Otherwise, we look at the flip side – rising costs in Asia and Europe cutting chemical production – as well as the renewed interest in some ESG sectors.

Last week we discussed 21 Chemicals and related products and 123 Companies.

See PDF below for all charts, tables and diagrams

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