The Weekly Catalyst

Global Chemical Update – Out in the Middle
November 14, 2022
Companies Mentioned:
LyondellBasell, Dow, Westlake, Enterprise Products, Flint Hills, Nutrien, CF Industries
Commodities Mentioned:
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

The Weekly Catalyst

Global Chemical Update – Out in the Middle

Key Points:

  • Global polymer values, on average, declined WoW, with US and Asia reflecting more declines than Europe, increasing concerns that a winter-led raw material surge could further cut profits.
  • USGC ethane held up WoW relative to Ex-US naphtha. However, Asia’s ethylene production costs have risen compared to the US (Ex. #15), primarily due to depressed Asia cracker co-product credits.
  • US polymer-grade propylene (PGP) increased relative to USGC propane and Asia propylene values WoW. Domestic PDH-unit profits are ~50% below September levels but higher than October lows.
  • Macro indicators for farm-input sellers held up WoW, given supportive corn, soybean, and canola prices. Ammonia prices fell in Europe WoW relative to the US amid a likely return of some production.  

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