The Weekly Catalyst

Global Spot Polymer & Chemical Prices Mixed WoW; Feedstock Cost Movements Benefit US Chemical Margins
May 28, 2024
Companies Mentioned:
Dow, Nova Chemicals, LyondellBasell, ExxonMobil, Pinnacle Polymers, Methanex, OCI, Celanese, Mitsui, CF Industries, Nutrien, LSB Industries, Phillips 66, Braskem
Commodities Mentioned:
Polyethylene, Polypropylene, Ethylene, Propylene, Methanol, Ammonia, Ethane, Naphtha, Crude Oil, Natural Gas, Butadiene
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 Spot Polymer & Chemical Prices Mixed WoW; Feedstock Cost Movements Benefit US Chemical Margins

  • Chemical Market Trends: We highlight a few global spot polymer market trends before the May publication of this week’s C-MACC/PXi polymer price expectation service. Contact us directly for subscription details.
  • Polymer Market Trends: NW European spot base chemical prices were broadly lower WoW, while US prices were flat-to-up and Asia prices were mostly flat-to-down, creating downward pressure on US export prices.
  • Feedstock Market Trends: Brent crude oil and US natural gas prices were lower WoW, while Ex-US natural gas prices increased – we discuss strength in US methanol producer margins relative to their peers abroad.
  • Agriculture Market Trends: Crop prices moved higher WoW, while spot ammonia values, on average, mainly were unchanged. US ammonia production margins reflect strength WoW relative to Europe and Asia margins.

Exhibit 1 – Chart of the Day: Western spot polymer-to-monomer spreads reflect sizable premiums relative to Asia.

Source: Bloomberg, C-MACC Analysis, May 2024


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