The Weekly Catalyst
Global Chemical Update – Can I Depend On You?
- US monomer (and polymer) prices WoW show more support than feedstock costs, continuing a trend of margin improvement since mid-4Q22. NW Europe and Asia producers reflect margin declines.
- US spot polymer prices, on average, WoW were essentially unchanged, while we observe weakness in Asia and NW Europe. US polyethylene posted the most improvement WoW, per our model.
- US natural gas and USGC ethane value declines have notably outpaced Crude and Ex-Naphtha value weakness since mid-4Q22 – a plus for North American chemical producers relative to Europe and Asia.