Global Market Analysis
Chinese chemical growth is the primary culprit of global oversupply in 2023 – it has limited North American cost benefits and put sizable pressure on
October 31, 2023
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Chinese chemical growth is the primary culprit of global oversupply in 2023 – it has limited North American cost benefits and put sizable pressure on
No one is making money in the West making electrolyzers today, but we see a new entrant almost weekly. This setting is reminiscent of the
Global spot polymer values, on average, decreased WoW, with polypropylene (PP) reflecting more support than polyethylene (PE) and polyvinyl chloride (PVC) – a trend likely
In our view, those calling for a quick end to fossil fuel use and simultaneously vilifying the oil and gas industry are likely condemning energy
There is more confidence in high oil prices and recent cost curve developments holding than in demand in most 2H23 business updates, and most expect
The North American commodity chemical sector 3Q23 results reflect improvement relative to mid-year expectations and its peers in Europe and Asia, but the positive momentum
NW Europe and US electricity price strength relative to natural gas supports our view that higher prices are needed to spur green product growth compared
The crude oil price rebound in 2H23 lifted global commodity chemical prices, favoring North American profit relative to Asia and Europe. Its impact on specialty
Outside of power/fuel applications, demand for clean hydrogen is limited by an unwillingness to pay more than grey alternatives, and even within the fuel space,
Global ammonia prices have risen QTD in 4Q23, led higher by supportive end-demand and increased Ex-US natural gas costs relative to US levels. We view
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