The Weekly Catalyst

Global Chemical Update – Crude Awakening
September 5, 2023
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
Companies Mentioned:
LyondellBasell, Dow, Nova Chemicals, Westlake, ExxonMobil, BASF, Nutrien, CF Industries, LSB Industries

The Weekly Catalyst

Global Chemical Update – Crude Awakening

Key Points:

  • Global chemical prices have risen from mid-year lows, with higher crude oil and related feedstocks being a primary driver and yielding significant relative benefits for low-cost North American producers.
  • NW Europe petrochemical markets saw significantly higher costs WoW and essentially unchanged prices, compressing its production margins relative to Asia and upping its potential for plant closures.
  • Ex-US ammonia price strength helped pull US prices notably higher WoW, lifting domestic margins, and we reiterate our constructive near-to-medium-term profit view for domestic fertilizer producers.

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