General Thoughts: Early 2026 chemical sector updates signal margin defense over volume, as pricing, self-help, and restructuring offset weak demand, policy uncertainty persists, and capacity
General Thoughts: Early-2026 cost-curve shifts amid persistent chemical market oversupply are forcing restructuring, with clear evidence likely emerging in 4Q25 results and more decisive 2026
General Thoughts: Global chemical downturn into 2026 will force ownership change and capital discipline, restructuring across Europe and Asia ex-China, while redefining low-cost integration as
General Thoughts: Ammonia markets hinge on reliability, not recovery, keeping prices elevated as supply additions lag volatility, farmer demand flexes, and integrated low-cost producers outperform
Polyethylene – December Monthly Price Expectation Report
General Thoughts: Global average ethylene production margins collapsed in early 4Q25 then stabilized modestly, but only restructuring like high-cost cracker closures can loosely replicate refining’s
Global Market Analysis There Will Be Blood, Closures: Global Return Hurdles Further Harden Into 2026 Key Findings Exhibit 1: Real rates strengthen globally in late
General Thoughts: Growing structural natural gas demand, persistent global chemical overcapacity, and tighter grid constraints will jointly determine competitiveness and boost cross-sector consolidation well into
Global Market Analysis Under Pressure: Natural Gas Spreads Compress, and Policy Expectations Turn Markets Inside Out Key Findings Exhibit 1: EU carbon prices outpace fading
General Thoughts: Ethylene margins track co-product despair more than oil-gas spreads, flattening global cost curves and forcing integrated producers to weaponize downstream portfolios rather than
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