The Weekly Catalyst

Global Chemical Update – Down On The Farm
May 23, 2023
Companies Mentioned:
Corteva, CF Industries, Nutrien, LSB Industries, FMC, BASF, Methanex, Olin, Nova Chemicals, LyondellBasell, Dow
Commodities Mentioned:
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

The Weekly Catalyst

Global Chemical Update – Down On The Farm

Key Points:

  • 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 ammonia margins.
  • Global polymer prices declined WoW, with Asia prices falling more than US values, increasing our concern that a weak US export market and higher domestic feedstock prices will cut domestic profits.
  • US natural gas prices and USGC ethane values increased notably WoW relative to Brent Crude and Ex-US naphtha, flattening the global chemical cost curve in a period of likely rebounding production.

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