The Weekly Catalyst

Global Chemical Update – All Too Well
May 15, 2023
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
Companies Mentioned:
Westlake, LyondellBasell, Braskem, Dow, ExxonMobil, Chevron Phillips Chemical, Formosa Plastics, Oxy, Shin-Etsu, Pinnacle Polymers, Ineos

The Weekly Catalyst

Global Chemical Update – All Too Well

Key Points:

  • Global polymer prices, on average, fell WoW, with feedstock costs outpacing polymer prices lower in Asia and Europe, supporting an Ex-US supply response to coincide with rising domestic production.
  • Integrated polyethylene (PE) producers in Asia show a profit for the second consecutive week after posting negative margins on average since 4Q21 – we view this as a concern for US PE export values.
  • We hold a more constructive view of polyvinyl chloride (PVC) relative to PE or polypropylene (PP). US PVC prices are below Asia levels, and higher competitive barriers surround its integrated producers.

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