Base Chemical Global Analysis
Global commodity chemical prices declined WoW, with the most significant price and feedstock price declines occurring in the US. Our global supply concerns remain much
May 30, 2023
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Global commodity chemical prices declined WoW, with the most significant price and feedstock price declines occurring in the US. Our global supply concerns remain much
US chemical sector equities have underperformed the market YTD. Fertilizers & Agricultural chemicals have underperformed, while industrial gases have outperformed the sector on avg.
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Consensus Asia consumer price inflation expectations for 2023 have fallen in May relative to the US and Eurozone, suggesting it will benefit from lower inflation
The G7 is facing criticism for its failure to set firm deadlines on the phasing out of coal and natural gas – the real focus
Some European chemical producers have seen costs decline YTD relative to others. However, our global market study shows Europe overall in a more difficult spot
We discuss the China polypropylene price decline MTD, highlighting more production, demand concerns, and its ability to source discounted Russian crude/feedstocks – a problem for
Crop prices reflect downward pressure WoW, putting many constructive farmer spending outlooks into question during a period where higher natural gas prices have further pinched
The North American ethylene spot market continues to face derivative production cutbacks and limits on its ability to serve higher-cost US export consumers – a
Global polymer prices fell WoW, with US and European values falling more on average than Asia – we discuss this trend alongside Asia production costs
China chemical producers and refineries will likely benefit from discounted Russian crude in 2023 – a plus for its global competitive position and low relative
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