Sunday Thematic & Weekly Recap

Ending Globalization (& Its Unwinding) Will Be Costly
March 27, 2022
Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polyurethane, Polycarbonate, PET, Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Methane, Methanol, Petroleum, Electricity, Wheat, Recycled Plastics, SAF, Biofuels, Paraxylene, Sugar Cane, Ethanol, Lithium, Wind, Solar
Companies Mentioned:
Dow, LyondellBasell, Westlake, ExxonMobil, CP Chemical, Baystar, Sabic, Axalta, AkzoNobel, PPG, Celanese,, Occidental, Enterprise Products, Navigator Holdings, Aramco, Braskem, Piedmont, Bachem, Ascend, Petrobras, Schlumberger, Baker Hughes, Halliburton, Weatherford, Adani, Uniper, Barentz, Cepsa, CF Industries, EuroChem, INOX Air Products, Air Liquide, Lonza, Mitsui Chemical, Myers Industries, Pertamina, Shin-Etsu, SK Siltron, Tosoh, Asahi Kasei, BASF, Petronas, Srichakra, Tokuyama, Avient, Koch Modular, Williams, PureCycle, Olin, Huntsman, Sherwin-Williams, Mura Technology, BP, Shell, Lanxess, ICL, Indian Potash, Eni, Navigator CO2, Recticel, Trafigura, Symrise, Songwon, Fluor, Maire Tecnimont, Neste, DHL Express, EDF, Stellantis, TotalEnergies, Vitol, General Mills, Tesla, VW, Nestle, Chevron, Swiss Re, Denbury, Inter Pipeline, Rockpoint Gas, Woodside Petroleum, Origin Materials, Gevo, Reliance Industries Limited, Aemetis, Qantas, Delta Air Lines, Oneworld Alliance , Alaska Airlines, American Airlines, British Airways, Finnair, Japan Airlines, Qatar Airways, Nova Chemicals, Shintech, H.B. Fuller, Arlanxeo, KB Home, Monolith, Airbus, JSR Corp, Graham Corp., Nikola, Mitsui, Electrolux, PJM, Sunlight, Blackrock, Olive Garden, Geely, Petro Rabigh, Holley, Plastic Omnium, Gulf Cryo, Rolls-Royce, Apple, Methanex, Southern Chemical Corp., Natgasoline, Bechtel, Sasol, YNCC, Sinopec, Capstone, Mantos, Compass Minerals, Evonik, Indian Oil, KBR, Posco, Worthington, NextDecade, Clariant, Hanwha, SOL Power, Wacker, Stadler, Domo Chemicals, FedEx, DXP Enterprises

C-MACC Sunday Thematic & Weekly Recap 111

Ending Globalization (& Its Unwinding) Will Be Costly

  • Uncertainty has increased meaningfully for most corporate near and perhaps medium-term strategic plans, with stubbornly high input costs being a critical issue.
  • Absent an improbable pro-West solution in Russia – energy independence and national security agendas will increase spending and commodity demand.
  • Consequently, we have to live with higher prices before adding the costs of climate change/energy transition – a loud and common theme at WPC last week.
  • Chemical sector profit expectations continue to rise, especially for the US, and the oil price rise is replicating the margin umbrella seen in 2011-2014.
  • Otherwise, we look at inventory and its impact on apparent demand, refining margins, some ESG issues, including carbon pricing, methanol, and recession.

Last week we discussed 27 Chemicals and related products and 141 Companies.

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