Chasing After You – US Spot PGP Near 2H21 Peak; ESG Initiatives Broaden; Demand Indicators Strong

Daily Chemical Reaction

Chasing After You – US Spot PGP Near 2H21 Peak; ESG Initiatives Broaden; Demand Indicators Strong

Key Points:

• US polymer-grade propylene (PGP) spot values have returned to Winter Storm Uri highs. We foresee a supply response ahead and discuss other indicators that suggest the current spot level is likely near the 2H21 peak.    
• We highlight pertinent chemical sector corporate updates (e.g., Silgan, Dow, Grace, Sinopec, Formosa, Avantium, & other news).  
• We highlight US refinery utilization, US chemical rail traffic, global freight rate, and other indicators suggesting far from normal supply chain health.
• We flag several ESG items worth note, ranging from a recovered HDPE price strength to numerous carbon reduction initiative updates.   
• Along with highlighting our latest ESG weekly, we flag our multi-client initiative on carbon abatement in conjunction with the Power Research Group.
• We note numerous other relevant chemical sector items in this report.

See PDF below for all charts, tables and diagrams