The Weekly Catalyst

Global Chemical Update – Heading Into A Colder Setting
November 20, 2023
Companies Mentioned:
LyondellBasell, Dow, Nova Chemicals, Westlake, ExxonMobil, Pinnacle Polymers, TotalEnergies, Braskem, Methanex, Trinseo
Commodities Mentioned:
Report Sections:
Feedstocks & Energy, Global Ethylene Cracker – Spot Profit Analysis , Ethylene & Propylene – Price Trends, Other Relevant Global Commodity Chemical Trends, Global Polyethylene Analysis, Global Polypropylene Analysis, Global Chlor - Vinyl Analysis, Global Methanol Analysis, Global Chemical Data Sheets, Agriculture Price Dashboard, Flow Charts & Other Ancillary Data

The Weekly Catalyst

Global Chemical Update – Heading Into A Colder Setting

Key Points:

  • Polyethylene (PE) and Polyvinyl Chloride (PVC) spot prices fell more in the US than abroad WoW, but Polypropylene (PP) values strengthened WoW despite US propylene and Ex-US PP prices falling.
  • Domestic PP prices will likely see a rising amount of downward pressure relative to current levels into 2024, as domestic upstream outages dissipate and US producers face more Asia competition.
  • US and NW Europe methanol prices fell WoW relative to Asia, a more negative trend for European producers than in the US. US benzene also declined WoW but remains high relative to Ex-US levels.

Exhibit #1 – Chart of the day: Global PE and PVC prices have fallen since mid-3Q23, but PP has strengthened.

Source: Bloomberg, C-MACC Analysis, November 2023

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