The Weekly Catalyst

Global Polyethylene Prices Rise Further, Most Other Polymer Chains Mixed YTD
February 26, 2024
Companies Mentioned:
Dow, Invista, Enterprise Products, Methanex, OCI, LyondellBasell, ExxonMobil, Chevron Phillips Chemical, Nova Chemicals, Yara, CF Industries, Nutrien, LSB Industries, POET, ADM, Green Plains, The Andersons
Commodities Mentioned:
Crude Oil, Natural Gas, Ethane, Propane, Naphtha, Ethylene, Propylene, Benzene, Polyethylene, Polyvinyl Chloride, Polypropylene, Polystyrene, Ammonia, Ethanol
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 & Margin Dashboard, Flow Charts & Other Ancillary Data

The Weekly Catalyst

Global Polyethylene Prices Rise Further, Most Other Polymer Chains Mixed YTD

  • Feedstock Market Trends: Brent Crude oil and Ex-US naphtha values fell WoW relative to US natural gas and USGC ethane values, though the global chemical cost curve still notably favors North American producers.
  • Chemical Market Trends: NW European ethylene production margins held positive territory for the second consecutive week last week, after being negative for ~8 months prior, amid co-product support and cost relief.
  • Polymer Market Trends: Global polyethylene prices show the most strength WoW, while polypropylene prices remain the most regionally mixed. US integrated polyethylene margins remain near highs last seen in 1H23.  
  • Agriculture Market Trends: Further weakness in corn values WoW continues to weigh on sentiment across the agriculture input sector. However, it helped lift ethanol margins WoW following their sharp QoQ decline.

Exhibit 1 – Chart of the Day: Global polyethylene values show the most broad-based strength on a 1- & 3-month basis.

Source: Bloomberg, C-MACC Analysis, February 2024

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