Daily Chemical Reactions

Slide – Virgin Plastic Product Availability To Likely Improve Relative To Recycled Resin Into 2023
November 16, 2022
Commodities Mentioned:
Plastics (PVC, PP, PE, PU, PC, PET, etc.), Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
Navigator Holdings, Enterprise Products, Nova Chemicals, Dow, LyondellBasell, Celanese, ExxonMobil, Excelerate Energy, Shell, TC Energy, Kaneka, Yara, SK Geocentric, Asahi Kasei, Kiri Industries, Galaxy Surfactants, Sudarshan Chemicals, KPI, Univation Technologies, Cathay Industries, Venator, Unitika, Nippon Industrial Chemical, Fluor, Albemarle, Allkem, GS Caltex, Lonza, IMCD, BP, Clean Energy Fuels, Neo Performance Materials, TotalEnergies, ReNew Power, KazMunayGas, Sinarmas Cepsa, INVISTA, Williams, Walmart

Daily Chemical Reaction

Slide – Virgin Plastic Product Availability To Likely Improve Relative To Recycled Resin Into 2023

Key Points:

  • We expect virgin plastic production improvements will cause greater availability into 2023, while recycled resin markets could reflect relative tightness in the near term.
  • US diesel prices recently reached a record premium relative to US gasoline values, which we view as a Western inflationary concern lacking adequate appreciation.
  • We highlight the Navigator Holdings 3Q22 earnings results, which put forth a positive view of US ethylene exports, and we show regional price trends support their view.
  • We flag IEA estimates for reduced coal usage as a development for many countries, such as China, to meet emission reduction targets. We also show RNG and CO2 trends.  
  • US West Coast port traffic reflects downward pressure. We also highlight the USD has weakened and mortgage rates declined WoW, though both remain near YTD highs.

See PDF below for all charts, tables and diagrams

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