Sunday Thematic & Weekly Recap

Run Rabbit Run – The Chinese Rabbit is Fast, but The US Has Muscle
January 22, 2023
Commodities Mentioned:
Plastics, PVC, Polypropylene, Polyethylene, PU, PC, PET, Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Packaging, Paper, Aluminum, PHA, PLA, Ammonia, SAF, Biofuels, Lithium
Companies Mentioned:
Nova Chemicals, Dow, Westlake, ExxonMobil, Chevron Phillips Chemical, LyondellBasell, Covestro, Huntsman, BASF, Yara, CF Industries, Nutrien, Enterprise Products, BP, Shell, Phillips 66, Chevron, TotalEnergies, Cleveland-Cliffs, Alcoa, SABIC, Atmonia, Evonik, PureCycle, Braskem, Henkel, Asahi Kasei, NACL Industries, Lonza, Clontarf Energy, Sika, Saudi Chemical, Orica, OQ, Lotte Chemical, Sekisui Chemical, Nanya Plastics, Toray, Oriental Energy, RYAM, Danone, Samyang, Danimer Scientific, Origin Materials, Mura Technology, Aker Carbon Capture, Aramco, Occidental, JERA, Tesla, Asian Paints, H.B. Fuller, PPG, Axalta, Orbia, Arkema, EV Metals, Borealis, Borouge, Indorama, Chesapeake Energy, LG Chem, Linde, Santos, BHP, Nucor, Harbour Energy, Motive Trading, RCS Group, ICL, Arkeon, Insteel Industries, Greenland Resources, Octopus Energy, NextDecade, Itochu Corporation, Topsoe, NEXT Energy Technologies, AkzoNobel, Air Products, Reliance, Elkem, Lanxess, Repsol, Eramet, Venator, Saudi Kayan, Nuberg, Kinder Morgan, Sol Systems, ABEI Energy, Eagle LNG, Neste, Gevo, Meghmani Finechem, RecycLiCo, Elementis, Unigel, Cal-Maine Foods, Ericsson, Petronas, Solvay, Continental AG, Wayfair

C-MACC Sunday Thematic & Weekly Recap 152

Run Rabbit Run – The Chinese Rabbit is Fast, but The US Has Muscle

  • The world’s optimists expect the Chinese rabbit to run hard, as its consumer spending helps offset western weakness to lead global economic growth in 2023.
  • Any hope for China in 2023 must come from local growth, in our view, as the global market will unlikely need Chinese durable goods export growth this year.
  • Separately, the base chemical surplus in China may persist regardless. The North American competitive edge is enormous, and its exports should rise to all regions.
  • Recent earnings releases talk about raw material relief, but all have a cautious eye toward China, seeing it as the most sizable uncertainty after European energy.
  • Otherwise, we look at the material options for packagers, slowing decisions, why metals could be the bright spot for 2023, and more negative indicators in the US.

Last week we discussed 21 Chemicals and Related Products and 104 Companies.

See PDF below for all charts, tables and diagrams

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