Global Chemical Update – Picture Me Rollin’

Key Points:

US polyethylene (PE) contract prices recently hit 10yr highs relative to US, Europe, and Asia spot PE prices. US producer nominated contract PE upticks for December and January appear unsupported.
Global chemical feedstock prices fell more again WoW than end-product prices across most major markets, spurring margin support in most product chains and favoring global production upticks.
Global polymer prices, on average, fell WoW, with Asia polyvinyl chloride (PVC) values showing the greatest uptick, while US PE and Europe polypropylene (PP) showed the most significant price declines.
Macro indicators for farm-input sellers modestly fell WoW. On average, we highlight that global fertilizer prices declined WoW, and our screens display a drop in US corn prices relative to US soybeans.