The Weekly Catalyst

Global Chemical Update – Commodity Strength, Higher Specialty Costs
September 25, 2023
Companies Mentioned:
Dow, LyondellBasell, ExxonMobil, Westlake, Nova Chemicals, Nutrien, CF Industries, LSB Industries, Covestro, Axalta, PPG
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 – Commodity Strength, Higher Specialty Costs

Key Points:

  • Global commodity chemical prices reflected strength WoW, a positive for North American producer profit relative to Asia and Europe. Non-integrated specialty producers face 3Q cost pressure globally.
  • We are more constructive of fertilizer and agricultural chemical value support in 4Q23 than the broader global commodity market, partly due to our fewer concerns with the global farm economy.
  • Global chemical feedstock values declined on average WoW, with USGC ethane falling more than Ex-US naphtha and Brent Crude, mostly mirroring the WoW percentage drop in US natural gas.


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