The Weekly Catalyst

Global Chemical Update – My Wrecking Ball
October 24, 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:
Nova Chemicals, Dow, LyondellBasell, ExxonMobil, CP Chemical, Solvay, Sherwin-Williams, Axalta

The Weekly Catalyst

Global Chemical Update – My Wrecking Ball

Key Points:

  • US chemical producers benefit from feedstock relief WoW, which has so far been the positive story of 4Q22. A cost rebound into year-end could push margins below expectations based on current figures.     
  • US spot ethylene decreased 4% WoW, less than the USGC ethane spot price decline of ~13% WoW, pushing implied US margins higher though spot ethylene values reflect levels near YTD lows.
  • US spot propylene prices increased the most WoW among global monomer values, rising 8% WoW though PGP prices are down 29% during the past 30 days. US propane prices also increased 4% WoW.
  • Brent Crude and Ex-US Naphtha prices held up more than US natural gas and USGC ethane values WoW – a positive development for North American chemical producers relative to overseas peers.

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