The Weekly Catalyst

North America’s Petrochemical Production Cost Advantage Rises Relative to Europe and Asia, Global Prices Mixed
July 1, 2024
Companies Mentioned:
Dow, LyondellBasell, Baystar, ExxonMobil, Chevron Phillips Chemical, Westlake, Oxy, Formosa Plastics, CF Industries, Nutrien, LSB Industries, Yara International, Shintech, Shell, Nova Chemicals, Celanese
Commodities Mentioned:
Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Ethylene, Propylene, Benzene, Corn, Ethane, 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

North America’s Petrochemical Production Cost Advantage Rises Relative to Europe and Asia, Global Prices Mixed

  • Polymer Market Trends: We highlight US spot polymer market developments that support conclusions issued in the latest C-MACC/PXi polymer price expectations report and comment on recent PVC price trends.
  • Chemical Market Trends: US spot ethylene prices reflect support, partly due to continued strength on the Choctaw (LA grid) relative to Texas, spurring some to sell merchant ethylene rather than produce derivatives.
  • Feedstock Market Trends: Brent Crude Oil and Ex-US naphtha prices rose WoW relative to global natural gas and USGC ethane prices, steepening the global chemical cost curve, on average, in favor of North America.
  • Agriculture Market Trends: US corn prices moved lower WoW, weighing on sentiment towards farmer income and crop input use. US spot ammonia production margins improved relative to Asia and Europe WoW.

Exhibit 1 – Chart of the Day: North America’s ethylene production advantage rose WoW relative to Europe and Asia.

Source: Bloomberg, C-MACC Analysis, July 2024


Client Login

Learn About Our Subscriptions and Request a Trial

Contact us to gain full access and experience our services!

Request a Free Trial

Archives