Daily Chemical Reaction
Need You Now – Recycled Resin Wholesale Prices Surge Relative To Virgin, Lifting Buyer Substitution Challenges
- The PPI for recycled resin surged MoM in February to reflect a level above the plastic resin & materials index, a near-term plus for recyclers and an indirect plus for virgin plastic producers.
- We highlight a few comments on LyondellBasell investor day ambitions, including growth targets for O&P through 2027 and its strategic view of its refining business and related assets.
- We discuss recent movements in crude oil and Ex-US naphtha relative to US natural gas and USGC ethane, which suggest a domestic petrochemical production revival is likely ahead.
- We discuss using intermittent renewable power sources, such as solar and wind, to produce green hydrogen, and flag a few challenges facing LyondellBasell and peer decarbonization efforts.
- We highlight the February uptick in the CPI for services, continued indicator weakness in US housing markets, and flag supply chain issues in Germany in the food and appliance sectors.
See PDF below for all charts, tables and diagrams