The Weekly Catalyst

Global Chemical Update – Hits Different
October 23, 2023
Companies Mentioned:
Yara, CF Industries, Nutrien, OCI N.V., KOCH Fertilizer, LSB Industries, Dow, LyondellBasell, ExxonMobil, Westlake, Enterprise Products, BASF, TotalEnergies, Braskem, Oxea
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 – Hits Different

Key Points:

  • 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 North American producers in an enviable spot.
  • European ethylene prices fell WoW to show a YTD low compared to US levels. We discuss rising ethylene production costs, shrinking polymer prices in Europe, and its likely profit drop into year-end.
  • US propylene prices have increased notably since September due to domestic production outages and higher relative Ex-US feedstock costs, posing problems for North American non-integrated buyers.


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