The Weekly Catalyst

Global Chemical Update – That Spells Relief! (For Some!)
January 23, 2023
Companies Mentioned:
Nova Chemicals, Dow, ExxonMobil, Chevron Phillips Chemical, Westlake, LyondellBasell, Shin-Etsu, Oxy, Formosa Plastics, Olin, Braskem, Ineos, Pinnacle Polymers
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 – That Spells Relief! (For Some!)

Key Points:

  • US polyethylene (PE) and polyvinyl chloride (PVC) integrated margins have benefited from price support and cost relief in 1Q23 relative to 2H22. Polypropylene (PP) margins remain under pressure.  
  • NW Europe polymer prices reflect a falling premium to US (and Asia) levels, as the US exports its sizable cost advantage and Asia exports its oversupply to the detriment of European producer margins.  
  • US ethylene production based on ethane feedstock reflected more than a US$0.10/lb. margin last week, while all other US feedstocks and NW Europe and Asia naphtha reflect negative margins.

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