Daily Chemical Reaction
- North American polypropylene (PP) prices face downward pressure as more domestic and global production and logistic improvements position supply to outpace demand.
- We discuss the Shell petrochemical development in the Northeast US, which benefits from a low-cost ethane feedstock market that could support more chemical projects.
- We discuss recent contract price declines for US PP and propylene and why we continue to take a cautious view of PP markets as availability improves into 2023.
- We discuss our concerns with recycled polymer profits, as prices fall relative to costs, and we highlight a direct air capture (DAC) development in Louisiana worth noting.
- Global container freight rates on avg. continue to trend toward 2019 levels as global supply indicators improve, working against many manufacturer price hike outlooks.
See PDF below for all charts, tables and diagrams