The Weekly Catalyst
- Global ammonia prices bounced higher to close July from YTD lows in early 3Q23. We do not model significant price increases in 2H23, but the downside risk looks low, and our 2024 view is constructive.
- NW Europe polyethylene (PE) prices fell WoW relative to production costs and US spot prices. The case for further European PE production cuts and US PE exports to Europe remains generally positive.
- US polyvinyl chloride (PVC) prices moved higher WoW relative to still notable premiums in Asia and, most notably, in NW Europe, and our view of this polymer chain is more favorable than most peers.