Daily Chemical Reaction
Stormy Weather – Global Business Updates Point To Cloudy Conditions, Even If There Are No Surprises
- We foresee downward pressure on global average polymer prices persisting into year-end 2022, absent major supply chain, logistic, and/or energy market disruptions.
- We agree with the message sent by ExxonMobil to European leadership today, noting disincentives to drive investment in many items that would boost its energy security.
- We highlight numerous 3Q22 earnings reports and discuss LyondellBasell and Eastman results and forward commentary. We also flag a few major commodity market trends.
- 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.
- We note Amazon views on holiday sales, display the downward trend in US pending home sales, and find German price hike expectations are falling into year-end.
See PDF below for all charts, tables and diagrams