Daily Chemical Reaction
Here Comes The Hotstepper – Shell Begins Production In Pennsylvania, Polyethylene Market Length To Grow
- The US ethylene production cost advantage has increased in 4Q relative to Asia peers, with depressed co-product values in Asia markets being a significant driving force.
- NW European natural gas prices have increased recently relative to US levels amid renewed supply concerns. We also highlight Marcellus natural gas price trends.
- Shell announces the start-up of its Monaca, Pennsylvania petrochemical complex, with its 3.5bn lbs. of polyethylene (PE) expected to ramp to full production by 2H23.
- We discuss the recent improvement in recycled resin prices, though they are notably lower YoY, and highlight a broadening of advanced recycling technologies.
- Global container freight rates, on avg., held up WoW. The US producer’s price index (PPI) posting for October, similar to the CPI result, grew but not as much as expected.
See PDF below for all charts, tables and diagrams