Daily Chemical Reaction
Farm To Fame – Global Ammonia Market Tight, Blue & Green Growth Prospects Continue To Sprout
- US ammonia prices and margins remain at the high end of the 30yr range, and we discuss why this market could stay tighter for longer than most other chemical chains.
- NW Europe and Asia natural gas prices have fallen from recent highs but are notably above US levels. Electricity costs in the US and Europe are both much higher YoY.
- US spot ethylene, benzene, and propylene prices reflect levels much closer to twelve-month lows than highs, and global derivative prices face downward pressure.
- Linde announces plans to produce green hydrogen from hydropower in NY, and this project shares many similarities with our MS Delta hydropower & industrial project.
- We highlight the shrinking US trade deficit, helped by strong US energy exports, flag general trends in global freight rates, and note improving North American rail trends.
See PDF below for all charts, tables and diagrams