The Weekly Catalyst
Global Chemical Update – Cover Me Up
Key Points:
- Global avg. polymer prices reflect declines again WoW, with US prices decreasing more than Ex-US levels. We view downstream/derivative price declines as a sizable US chemical sector profit-risk in 2H22 that lacks adequate attention relative to costs.
- We highlight our Sunday Thematic, The Market is Down, But Negative Revisions May Stall A Recovery. We also flag last week’s research, Free Fallin’ – 1H Chemical Profit Fell Due To Higher Costs, Holes Develop In Some 2H Price Parachutes.
- Global commodity trends on display in this report comprise monomer, polymer, and feedstock indicators relevant to gauging sector profitability.