The Weekly Catalyst
Global Spot Polymer & Chemical Prices Mixed WoW; Feedstock Cost Movements Benefit US Chemical Margins
- Polymer Market Trends: We highlight a few global spot polymer market trends before the May publication of this week’s C-MACC/PXi polymer price expectation service. Contact us directly for subscription details.
- Chemical Market Trends: NW European spot base chemical prices were broadly lower WoW, while US prices were flat-to-up and Asia prices were mostly flat-to-down, creating downward pressure on US export prices.
- Feedstock Market Trends: Brent crude oil and US natural gas prices were lower WoW, while Ex-US natural gas prices increased – we discuss strength in US methanol producer margins relative to their peers abroad.
- Agriculture Market Trends: Crop prices moved higher WoW, while spot ammonia values, on average, mainly were unchanged. US ammonia production margins reflect strength WoW relative to Europe and Asia margins.
Exhibit 1 – Chart of the Day: Western spot polymer-to-monomer spreads reflect sizable premiums relative to Asia.
Source: Bloomberg, C-MACC Analysis, May 2024
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