The Weekly Catalyst
- Global polymer prices declined further WoW, pushing integrated margins lower, and we expect the potential for further declines in late 2Q23 and into 2H23 as production improves more than demand.
- We add two new sheets to our weekly product: a global polypropylene analysis and a global chlor-vinyl analysis. We favor Chlor-vinyls relative to most other polymer chains, though all face headwinds.
- Global monomer prices also fell WoW, which could be a margin benefit for some non-integrated buyers with spot exposure. However, our demand indicators from most chains are lukewarm at best.