The 51st State – May Now Seem More Appealing

C-MACC Sunday Thematic & Weekly Recap 134

The 51^st State – May Now Seem More Appealing

• It seems appropriate to talk about the UK this week as the risk of economic isolation should be the biggest of many worries on Prime Minister Truss’ list.
• The Commonwealth was fragile before the passing of the Queen; an unfriendly break-up (plus Brexit) may leave the UK devoid of friends except for the US.
• Energy transition advantages in the UK (less expensive CCS than many in Europe) could make the UK an attractive place for blue hydrogen/ammonia investment.
• We also look at the weakness in US PVC, make a call for what is likely a market bottom, and suggest that companies like Westlake (post revisions) look interesting.
• Otherwise, we look at declining ethylene profits everywhere, some interesting options for US ethylene, more economic weakness and hope for US housing.

Last week we discussed 30 Chemicals and related products and 106 Companies.

See PDF below for all charts, tables and diagrams