The Weekly Catalyst
Global Chemical Update – Wonderin’ Bout the Wind
Key Points:
- On average, global spot monomer and polymer prices WoW were primarily unchanged. However, US propylene values significantly surged WoW, outpacing US spot propane and polypropylene upticks.
- USGC ethane values increased WoW relative to Ex-US naphtha. The oil-to-gas ratio also fell from its recent multi-year high, though spreads still favor a revival in North American chemical production.
- So far, our CERAWeek conversations suggest sizable challenges with finding low-cost, high-capacity clean energy for industrial use and likely delays, which lifts our confidence in Issaquena Green Power.