The Weekly Catalyst
- European chemical prices, on average, sank further WoW, outpacing US and Asia declines relative to feedstock costs and suggesting producer pain and related strategic activity will likely pick up in 2H23.
- US spot ethylene producers are profitable, but their margins fell to their lowest YTD level last week, while Asia margins are near their highest YTD level. Ex-US naphtha fell relative to USGC ethane WoW.
- Global polymer prices decreased WoW on average, with Europe reflecting the most notable regional weakness in polyethylene and polypropylene but modest relative price support in polyvinyl chloride.