General Thoughts: Across markets, tighter conditions are mainly driven by higher costs and lingering curtailments, not by demand, as US propylene firms WoW, while early-year
General Thoughts: Early-year chemical spot prices and relative feedstock cost movements suggest that the pace of restructuring and regional return-enhancement efforts will be more decisive
General Thoughts: Depressed global chemical sector growth expectations, co-product erosion, and flattened cost curves make restructuring pace and margin resilience more decisive than demand recovery
General Thoughts: Feedstock convergence is eroding regional cost advantages amid weak demand, leaving supply discipline, not demand recovery, as the clearing mechanism into 2026, keeping
General Thoughts: Chemical feedstock movements drive greater sector margin compression WoW than price shifts, as late 2025 supply adjustments and flatter global cost curves shape
General Thoughts: Chemical feedstock movements impact producer margins WoW more than price movements, as chemical supply shifts in October and November have helped balance most
General Thoughts: Exporting the advantaged US ethane cost position and surplus ethylene amid low oil prices and downstream market oversupply will likely be a bumpy
General Thoughts: Sector momentum in late 2025 reflects commodity divergence, with easing crude and Ex-US natural gas prices, firm US gas, and mixed demand exposing
General Thoughts: Global chemical profit improvement in the near term depends less on cyclical recovery and more on rationalized capacity, cost integration, and policy agility
General Thoughts: Chemical feedstock volatility is uneven and mostly net-margin negative, as derivative demand stays soft into early November and rationalization, not restarts, is broadly
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