Sunday Thematic & Weekly Recap

Taking Stock: How Inventories Could Impact Everything, Incl. Stocks
March 19, 2023
Commodities Mentioned:
Plastics, PVC, Polyethylene, Polypropylene, PU, PC, PET, Critical Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Hydrocarbons, Carbon, Batteries, EVs, Critical Metals, Lithium, Copper, Nickel, Cobalt, Wind, Solar, Nuclear, Hydro, Geothermal Power, Ammonia, Ethylene, Virgin Resin, Recycled Plastic
Companies Mentioned:
Dow, Enterprise Products, LyondellBasell, ExxonMobil, Westlake, Olin, Oxy, Shin-Etsu, Orbia, Formosa Plastics, Aramco, Navigator Holdings, Lummus Technology, Citgo, ConocoPhillips, Petronas, HFI, Chesapeake, Ineos, Siemens, Sinopec, Oracle, Thyssenkrupp, Unigel, Itafos, Corteva, Bunge, Chevron, Sunnova, Chevron Phillips Chemical, QatarEnergy, BASF, Albemarle, Cleveland-Cliffs, BHP, Nucor, X-Energy, Mitsubishi Power, Eni, DIC, Idemitsu, Volkswagen, Tesla, Honda, United Airlines, Lanxess, Mitsubishi Chemical, Idemitsu Kosan, Cepsa, Agrofert, Borealis, Apollo Global, Univar, Johnson Matthey, Equinor, Sipchem, Neo Battery Materials, OQ Chemicals, Wacker, Adama, Toyo Ink, Chimei, Gail, JBF Petrochemicals, Nova Chemicals, Pemex, Emerson, Eon, Intuit, Climeworks, Kolon, Nel, Williams, Pembina, 1PointFive, Technip Energies, Shell Catalysts & Technologies, Zachry Group, Calpine, Air Products, Aker Carbon Capture, Denbury, Citi, bp, Shell, TotalEnergies, Sasol, OMV, CNOOC, Heartland Polymers, Linde, Air Liquide, Grupa Azoty, Kansai Electric, K+S, Hempel, LG Chem, SK Chemicals, Covestro, Paprec, Evonik, Polyplastics, Sayona Mining Limited, Berkshire Hathaway, EQT, Tredegar, Aptar, Ceres, Bosch, AVANGRID, NuScale Power, Leeward Renewable Energy, Braskem, Invista, PPG, Alcoa, Bechtel, Milliken, NextDecade, US Steel, Chemours, MAN Energy Solutions, Rio Tinto, Enviva, EDF Renewables, Toray, Stahl, Indorama Ventures, Polymateria, Gulf Coast Sequestration, Battelle, Heirloom Carbon, FedEx

C-MACC Sunday Thematic & Weekly Recap 160

Taking Stock: How Inventories Could Impact Everything, Incl. Stocks

  • This is not a real estate crisis (at least not yet) but the unknowns in the economy and the markets are significant, not least of which is what happens to inventory.
  • Shrinking inventory, because of higher carry costs, could depress input demand, which would be particularly bad for an already oversupplied chemical industry.
  • Whether SVB is a “Bear Stearns” early warning on bank stability looks unlikely unless the inventory reversal we suggest drives down manufacturing much further
  • We talk more about Aramco and others’ ambitions to push more hydrocarbons into chemicals and the risk this has for future supply/demand imbalances.
  • We discuss some of the current energy dilemmas, such as the need for more LNG, but some reluctance to sign up as well as LNG construction bottlenecks.

Last week we discussed 32 Chemicals and Related Products and 133 Companies.

See PDF below for all charts, tables and diagrams

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