The Weekly Catalyst

Counting On Continued Turbulence – North America Chemical Prices Mostly Higher, While Other Markets Remain Mixed
June 17, 2024
Companies Mentioned:
ExxonMobil, Dow, Nova Chemicals, LyondellBasell, Westlake, OxyChem, Formosa Plastics, SABIC, CF Industries, Nutrien, LSB Industries, Yara, Enterprise Products
Commodities Mentioned:
Polyethylene, Polypropylene, Polyvinyl Chloride, Ethylene, Propylene, Ammonia, Ethane, Propane, Naphtha, Crude Oil, Natural Gas
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

Counting On Continued Turbulence – North America Chemical Prices Mostly Higher, While Other Markets Remain Mixed

  • Polymer Market Trends: Global spot prices continue to show strength in North America relative to average levels abroad, as production concerns and feedstock strength are supporting buying activity, for now.
  • Chemical Market Trends: Global base and intermediate spot chemical prices were mixed WoW, and we focus on further strength in US spot propylene price strength that bodes well for contract US PGP and PP prices.
  • Feedstock Market Trends: US natural gas prices fell last week relative to Ex-US natural gas prices. We also flag US spot propane rose the most among major feedstocks while Singapore naphtha was among the weakest.
  • Agriculture Market Trends: Global ammonia values were largely unchanged WoW, with the drop in US natural gas prices lifting domestic producer margins relative to peer Ex-US ammonia production margins last week.

Exhibit 1 – Chart of the Day: US spot ethylene and propylene rise WoW because of several support factors.

Source: Bloomberg, C-MACC Analysis, January 2024


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