Daily Chemical Reactions

The Green Swing – Project Delays Could Outweigh Demand Risk, Keeping Some Singing “Bling, Bling”
December 13, 2022
Commodities Mentioned:
Plastics (PVC, PP, PE, PU, PC, PET, etc.), Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
CF Industries, Nutrien, Yara, LSB Industries, CNOOC, Aramco, Air Liquide, DSM, INEOS, Tronox, Clariant, Dow, Chevron Phillips, Cummins, Linde, Repsol, Naturgy, Reganosa, Petronas, Emerson, Synthomer, Phillips 66, Novozymes, Konoshima Chemical, INOVYN, KEM ONE, Westlake, Nobian, Covestro, Gulf Resources, Sipchem, SK Innovation, Sulzer Chemtech, Evonik, Siemens Energy, Oxbow Crush, Maersk

Daily Chemical Reaction

The Green Swing – Project Delays Could Outweigh Demand Risk, Keeping Some Singing “Bling, Bling”

Key Points:

  • We think global ammonia is an example market that will stay tighter for longer than most other chemical chains, and we discuss myriad factors supporting our outlook.
  • On average, UK & NW European natural gas prices have risen significantly from 4Q lows, squashing some hopes of regional commodity chemical production restarts.
  • We highlight global ammonia price trends, the movement upwards in US ammonia raw material margins from recent lows, and discuss Denbury’s ammonia market view.
  • We discuss the Denbury CCUS market outlook, US IRA funding benefits, technology advances, and Europe being in relative trouble from an investment perspective.
  • Global container freight rates, on average, furthered their decline WoW toward 2019 levels, though the rate to send cargo from Europe to the US reflects relative support.

See PDF below for all charts, tables and diagrams

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