The Weekly Catalyst

Global Chemical Update – Take It From Me
August 22, 2022
Report Sections:
Feedstocks & Energy, Global Ethylene Cracker, Spot Profit Analysis, Ethylene & Propylene, Price Trends, Polyethylene Review, Other Relevant Global Polymer Trends, Other Relevant Global Chemical Trends, Global Chemical Data Sheets, Flow Charts & Other Ancillary Data
Companies Mentioned:
ExxonMobil, CP Chemical, Navigator Holdings, LyondellBasell, Dow, Nova Chemicals, Enterprise Products, Westlake, Occidental, Olin, Nutrien, CF Industries, LSB Industries

The Weekly Catalyst

Global Chemical Update – Take It From Me

Key Points:

  • The US holds a sizable ethylene production cost advantage relative to NW Europe and Asia, a plus for exports despite Ex-US ethylene values near multi-year lows compared to USGC ethane costs.
  • USGC ethane values increased relative to Ex-US naphtha values WoW, modestly flattening the global ethylene cost curve at the feedstock level. US natural gas also rose compared to Brent Crude.  
  • NW Europe ethylene and propylene values significantly declined WoW, while regional polymer markets reflect less downward pressure. This general development is a plus for US chemical exporters.
  • Macro indicators for farm-input sellers moderated WoW. Corn, soybean, and canola prices declined WoW, US corn prices declined less than soy, and US fertilizer prices on avg. also declined.

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