The Weekly Catalyst

Global Chemical Update – Clean Material Divergence
January 3, 2023
Companies Mentioned:
Livent, SQM, Albemarle, Ganfeng, Glencore, Umicore, Freeport-McMoRan, Celanese, BASF, Dow, Ascend, Sumitomo, Huntsman
Commodities Mentioned:
Report Sections:
Feedstocks & Energy, Global Ethylene Cracker, Spot Profit Analysis, Ethylene & Propylene, Price Trends, Polyethylene Review, Other Relevant Global Polymer Trends, Other Relevant Global Chemical Trends, Global Chemical Data Sheets, Flow Charts & Other Ancillary Data

The Weekly Catalyst

Global Chemical Update – Clean Material Divergence

Key Points:

  • The C-MACC Clean Energy Minerals Monthly Price Index improved in December, and we foresee continued support into 1H23 as we do not think supply improvements can keep pace with demand.
  • Global polymer prices WoW were broadly unchanged, though we find more strength entering 2023 in Asia and Western Europe than North America, which is a general plus for US export prices.
  • Brent Crude and Ex-US naphtha values increased WoW relative to US natural gas and USGC ethane, pushing North American chemical producer profit relative to peers abroad in most product chains.
  • Macro indicators for farm-input sellers rose Corn values moved higher relative to soybeans, and ammonia-based fertilizer prices, on average, were unchanged though margins improved.

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