Daily Chemical Reaction
Go Your Own Way – Chemical Market Indicators May Worsen In 4Q22, Agriculture Likely To Stay Strong
- We think considerable fundamental risk surrounds most US chemical sub-sectors into year-end, limiting our optimism towards them relative to agriculture and fertilizer.
- We highlight US LNG development commentary, the weak argument for implementing a windfall tax on US energy, and the continuation of elevated US refinery margins.
- We highlight DuPont, Ashland, Evonik, and other chemical sector business updates, and we provide our views on the nimbleness of DuPont’s strategy under Ed Breen.
- We highlight significant news flow from COP27, with many countries reiterating their ESG commitments despite most lacking a viable framework to meet them.
- We discuss recent global freight rate developments, pointing out that those targeting the US showed support WoW while US export market rates, on average, fell WoW.
See PDF below for all charts, tables and diagrams