Global Market Analysis, Sunday Executive Summary

Metal Guru: Help Expensive Nations Compete With Cheap China

September 3, 2023

Companies Mentioned: LyondellBasell, Dow, ExxonMobil, Westlake, Oxy, Shin-Etsu, Formosa Plastics, CF Industries, Nutrien, Marathon Petroleum, Valero, Sinopec, Aramco, Shell, Lotte Chemical, Bakelite Synthetics, Sinofert, S-Oil, Sumitomo Chemical, SCG Chemicals, Bloom Energy, Equitrans, Crescent Point, Vulcan Energy, Chevron, Braskem, DSM-Firmenich, Univar, Lanxess, Brenntag, Kronos, Owens Corning, VinFast, BYD, Tesla, Citgo, Petrobras, Vanguard, Blackrock, Fortescue, Oneok, Piedmont Lithium, Fisker, CNOOC, Sappco, Nucera, ADES Holding, Methanex, Petronas, Proman, OCI, SABIC, Celanese, Neste, Mosaic, Bayer, RWE, Orsted, Plug Power, U.S. Steel, Equate, PhosAgro, Mitsui Chemicals, Oriental Energy, Sibur, BP, POSCO, EnBW, LG Chem, Pemex, Rio Tinto, Best Buy, Permian Resources, Earthstone, Equinor, Technip Energies, Euclid Chemical, Regal Chemical Company, Avantium, Avangrid, PetroChina, Williams, Adama, Syngenta, Corteva, BASF, FMC, Hyundai Motor Group, Korea Zinc, Lenzing, AGC, Mitsubishi Gas Chemical, FuelCell Energy, Ganfeng Lithium, Acciona Energia, Nu:ionic, Liberty Utilities, Glencore, Pertamina, AltaGas, Sipchem, VGrid Energy Systems, Sempra, TotalEnergies, JP Morgan, EVgo, Amazon, Green Plains, FTC Solar, Neom, Denso, Denbury, Aker Carbon Capture, Summit Carbon Solutions, Siemens Energy, Siemens Gamesa, Vestas, Danimer, Gevo, Allkem, Albemarle, SQM, Vale, Freeport-McMoRan, BHP, Olin, Recticel, Berry Global, Tianqi Lithium, Ecopetrol, Versalis, Fresh Inset, Asahi Glass, Proton Green, CB&I, Acron Eramet, Stolthaven, Teijin, Cargill, ADM, Hytera, Octopus Energy, Enterprise Products
Commodities Mentioned: Plastics, PVC, Polyethylene, Polypropylene, PU, PC, PET, Critical Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Ammonia, Ethylene, Hydrocarbons, Electric Power, Renewable Power, Hydro, Geothermal, Solar, Wind, Nuclear Power, Oil, Coal, Fossil Fuels, CCS, EVs, Metals, Steel, Aluminum, Water, RNG, LNG, Ethanol

C-MACC Sunday Thematic & Weekly Recap 184

Metal Guru: Help Expensive Nations Compete With Cheap China

As the West tries to develop strategies to drive higher self-sufficiency in critical metals and other components for national security, China’s cheapness interferes.
Global economic weakness impacts current metals markets, but Chinese deflation allows the country to sell at prices that challenge investments elsewhere.
Meanwhile, in the ethylene chain, many appear to have their heads in the sand or are singing off an (upstream) integration song sheet – China keeps building.
We look at further weakness in chemicals, especially in Europe, but again focus on why we believe the Ag chain is more interesting than the rest – for now.
Otherwise, we discuss hydrogen pricing and those that claim (falsely) that they have some. We also look at important takeaways from the ExxonMobil 2050 view.

Last week we discussed 36 Chemicals and Related Products and 143 Companies.

See PDF below for all charts, tables and diagrams