The Weekly Catalyst

Global Chemical Update – Limit to Your Love
August 14, 2023
Companies Mentioned:
Westlake, Occidental, Shin-Etsu, Formosa Plastics, Orbia, Olin, Dow, Nova Chemicals, ExxonMobil, Chevron Phillips Chemical, Methanex, Mitsui Chemicals, OCI, Southern Chemical
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 – Limit to Your Love

Key Points:

  • Global polymer values have broadly increased since 2Q23 closed, with most of the improvement resulting from tighter upstream energy markets, reflecting more benefits for some chains over others.
  • Absent energy market strength or unplanned outages, we expect most polymer prices (and margins) to turn lower in late 3Q and 4Q23 – US PVC margins reflect less downside risk than PP per our model.
  • Other items in this report include a view of Western methanol prices compared to Asia, unchanged global ammonia values despite corn price weakness, and broader commodity price and margin trends.

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