US Integrated Polymer Margins Remain Mostly Higher Than Their 1Q24 Average; This Could Change By 3Q24!

Polymer Market Trends: C-MACC CEO Cooley May and PXi Founder Robin Chesshier are attending the NPE conference this week, where we will discuss our polymer pricing service with plastic producers and buyers.
Chemical Market Trends: Global base and intermediate spot chemical prices mainly were lower WoW, with Europe and Asia seeing greater price declines than North America, putting downward pressure on its markets.
Feedstock Market Trends: US natural gas prices surged last week relative to declining Brent crude oil values and mostly unchanged Ex-US natural gas values – a negative development WoW for US petrochemical margins.
Agriculture Market Trends: Global spot ammonia values WoW, on average, WoW showed modest weakness while US production costs surged, and we foresee further downward pressure on US ammonia margins ahead.

Exhibit 1 – Chart of the Day: US integrated PE, PP, & PVC integrated margins begin May higher than their 1Q24 avg.