Daily Chemical Reactions

Mineralocalypse Not Now (But Expected Later!), Chemical Sector Outlooks Increasingly Look Past Weak 2H23 To 2024
August 1, 2023
Commodities Mentioned:
Plastics (PVC, PP, PE, PU, PC, PET, etc.), Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
BASF, Albemarle, Livent, Ganfeng Lithium, Freeport-McMoRan, Glencore, Umicore, Huntsman, Covestro, Alpek, LyondellBasell, Shell, Asahi Kasei, Borouge, Eureka Resources, Lithium Americas, Indian Oil, McDermott, KH Neochem, Balchem, Olin, OMV, Rio Tinto, OCI, Ohka Kogyo, Shin-Etsu, Rare Element Resources, BP, OCI Global, TC Energy, Sabic, Origin Materials, Enerkem, Technip, Ineos, Ecolab, Enterprise Products, Adnoc, Siemens Gamesa

Daily Chemical Reaction

Mineralocalypse Not Now (But Expected Later!), Chemical Sector Outlooks Increasingly Look Past Weak 2H23 To 2024

Key Points:

  • The C-MACC Clean Energy Minerals Monthly Price Index declined ~4% in July, following upticks in May and June – lithium price weakness is the significant driver of the index decrease in July.
  • Chemical sector 2Q23 business updates highlight that commodity prices weakened in late 2Q and into July, and most expect a continuation of weak trends in 2H23 before a recovery in 2024.
  • We highlight the DOE critical mineral assessment and discuss why clean energy mineral prices, on average, reflect less downside risk in 2H23 than the value of most commodity chemicals.
  • We discuss the benefits of integration, ranging from BASF in battery materials and recycling to Republic Service’s plans to link its waste collection business with downstream polymer recycling.
  • Global automotive markets remain a bright spot among durable goods markets, with most remaining weak, as highlighted by Covestro, and concerns with Europe remain broadly high.

See PDF below for all charts, tables and diagrams


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