Daily Chemical Reaction
- The global polymer market is showing signs of moving toward a more normal balance as regional disconnects lessen, but the upcoming winter reflects significant risk.
- NW European natural gas prices have fallen considerably relative to US levels, and we discuss a few petrochemical production cost curve developments in early 4Q22.
- We highlight recent movements in NW Europe polymer and ethylene values relative to US levels, as we foresee more concerns with demand than global supply in 4Q22.
- We discuss the BP acquisition of Archaea Energy to further its clean product growth ambitions, Dow’s circular and recycled product targets for 2030, and other updates.
- Global container freight rates on avg. continue to trend toward 2019 levels. Though a few pockets reflect near-term support, indications of a global slowdown are rising.
See PDF below for all charts, tables and diagrams