Sunday Thematic & Weekly Recap

Danger Zone: Misplaced Optimism Possible In 2022 Guidance
April 17, 2022
Commodities Mentioned:
PVC, Polypropylene, Polyethylene, Polyurethane, Polycarbonate, PET, Minerals, Carbon Dioxide, Hydrogen, LNG, Natural Gas/NGL, Crude/Naphtha Wind, Solar, Copper, Lithium, Nickel, Cobalt, Chromium, Zinc, Manganese, Water, Ethanol, Chlor-Alkali
Companies Mentioned:
Nova Chemicals, Dow, LyondellBasell, Westlake, ExxonMobil, CP Chemical, Braskem, Celanese, Oxy, Enterprise Products, Olin, Methanex, Delek, Shell, DIC, Pilbara Minerals, Albemarle, Livent, SQM, Ineos, Idemitsu, Lonza, TotalEnergies, BASF, Maire Tecnimont, OMV, Posco Chemicals, Givaudan, AkzoNobel, Amcor, Amyris, Closed Loop Partners, Tosoh, Sibur, NextDecade, Sinopec, Sumitomo, Wacker, Versalis, Advanced Petrochemical, SABIC, Mitsubishi Chemical, CarMax, Schlumberger, ADM, Viva Energy, Orbia, Shin-Etsu, Glencore, Formosa Plastics, H.B. Fuller, Grupa Azoty, K+S, Lynas, Cleco, Qatar Vinyl, Wanhua Chemical, Orica, Brightmark, ENEOS, Enerkem, Gulf Resources, Sasol, Uniper, Georgia-Pacific, Plug Power, Oceania Biofuels, Corteva, Technip Energies, Linde, Clariant, Fastenal, Tesco, Henkel, Honda, Loop Energy, Hitachi, Chevron, Cheniere, Epsilyte, Ashland, Huntsman, Covestro, Pertamina, Eni, Trafigura, Univar, Alcoa, Ahold, Compass Minerals, Kraton, Asahi Kasei, Honeywell, Panasonic, Symrise, Veolia, Bridgestone, LanzaTech, AstroNova, SK Innovation, Delhaize, Sealed Air, Schnitzer, Ford, Bed Bath & Beyond

C-MACC Sunday Thematic & Weekly Recap 114

Danger Zone: Misplaced Optimism Possible In 2022 Guidance

  • Strong 1Q22 results, which will likely include comments on strong order books, are unlikely to reflect upcoming downstream and end-product demand weakness.
  • Materials companies usually see only lagging indicators in their order books at business cycle peaks – we discuss sector leading and lagging indicator trends YTD.
  • The macro outlook is worsening daily, with inflation and consumer confidence declines likely to curtail demand outside China, which has issues of its own.
  • Companies following robust first-quarter results with bullish guidance based on early 2Q order books may be tripped by effects that they see little proof of today.
  • Otherwise, we talk about climate ambition shortfalls, polypropylene’s popularity, LNG and the US opportunity, and lithium and other critical minerals.

Last week we discussed 26 Chemicals and related products and 104 Companies.

See PDF below for all charts, tables and diagrams

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