Daily Chemical Reactions

Tracks Of My Tears – European Chemical Producers Reposition, Permian Gas Sellers Temporarily Weep
October 26, 2022
Commodities Mentioned:
Plastics (PVC, PP, PE, PU, PC, PET, etc.), Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
BASF, Axalta, 3M, Wanhua Chemical, Bunge, Braskem, Cabot Corporation, Chemours, Aramco, Elementis, Ineos, Elkem, Mesaieed Petrochemical, Symrise, Albemarle, OCI, Chandra Asri, Air Water, Idemitsu Kosan, Rinchem, EMS Group, Teijin, Samsung SDI, Eagle Materials, Valero Energy, Halliburton, Shell, Cyclyx International, Agilyx, NuScale Power, Prodigy Clean Energy, Owens Corning, Masco, Clariant, Henkel, Westlake, TotalEnergies

Daily Chemical Reaction

Tracks Of My Tears – European Chemical Producers Reposition, Permian Gas Sellers Temporarily Weep

Key Points:

  • We discuss the continued push among specialty chemical producers to recapture margins and more global announcements of strategic repositioning among producers.
  • We highlight much tighter conditions in the US Diesel market relative to the Gasoline market and flag the risk of the Diesel market adding to consumer inflation pressures.
  • BASF has telegraphed concerns for its European business since the Ukraine/Russia conflict started. We discuss its European downsizing and other producer 3Q releases.
  • We discuss challenges in Europe to aggressively shift its mix to renewables from fossil fuel-based power and see exorbitant costs as an issue for some recycling initiatives.
  • We remain concerned that the better auto market – referenced by BASF in China and GM – could be a flash in the pan, and we flag US mortgage rates at a new YTD high.

See PDF below for all charts, tables and diagrams

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