The Weekly Catalyst
Global Chemical Update – Picture Me Rollin’
- US polyethylene (PE) contract prices recently hit 10yr highs relative to US, Europe, and Asia spot PE prices. US producer nominated contract PE upticks for December and January appear unsupported.
- Global chemical feedstock prices fell more again WoW than end-product prices across most major markets, spurring margin support in most product chains and favoring global production upticks.
- Global polymer prices, on average, fell WoW, with Asia polyvinyl chloride (PVC) values showing the greatest uptick, while US PE and Europe polypropylene (PP) showed the most significant price declines.
- Macro indicators for farm-input sellers modestly fell WoW. On average, we highlight that global fertilizer prices declined WoW, and our screens display a drop in US corn prices relative to US soybeans.