C-MACC Sunday Thematic & Weekly Recap 120
Ethylene Or Propylene – Who Is Top Gun? Depends Where You Live
- US propylene market fundamentals remain at odds with ethylene worldwide and propylene in other regions – trade arbitrages are generally difficult to exploit.
- The US is not set up for propylene imports, and logistics limit derivative imports, today mostly by high shipping rates from Asia, where surpluses are most acute.
- US ethylene remains globally competitive, even considering the current higher US natural gas and ethane prices, but there is much less room for maneuver today.
- We frame and discuss many poor EU decisions on tackling energy needs and transition – moving interdependence from Russia to a likely worse one with China.
- Otherwise, we look at more concerning economic data (US housing and autos), ethylene exports from the US, and question where the US LNG will come from.
Last week we discussed 40 Chemicals and related products and 148 Companies
See PDF below for all charts, tables and diagrams
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