Daily Chemical Reaction
Cruisin’ For A Bruisin’ – Auto Market Consumers Get Run Over, Suppliers Should Buckle Their Safety Belts
- Consumer affordability indicators are braking amid rising borrowing costs and low confidence, positioning auto markets to hit a brick wall with chemical suppliers in tow.
- Lame Duck Oil! Despite high prices and political pressure, the lack of attractive long-term returns is working against capital-intensive investment to boost oil production.
- We discuss why LyondellBasell’s decision not to restart its Berre, France cracker until 2023 is not surprising. We also flag recent methanol contract postings from Methanex.
- Government programs intending to spur green power and associated infrastructure continue to mount, and we advise focusing on programs with a competitive edge.
- We highlight CarMax and Bed Bath & Beyond business updates, continued US Dollar strength relative to other major currencies, and inflation mismanagement in the UK.
See PDF below for all charts, tables and diagrams