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what we are talking about today

Daily Chemical Reaction

2step – PPI Outpaces CPI In April, Supporting Case For Further Chemical End-Market Price Hikes

2step – PPI Outpaces CPI In April, Supporting Case For Further Chemical End-Market Price Hikes

Producer price hikes have outpaced consumer prices YTD, suggesting end-market price increases are still ahead in many product chains. We also flag recent business updates that are more cautious than those posted in April.
We highlight pertinent energy, chemical, and other corporate updates (e.g., SABIC, OCI, Braskem, Indorama, Celanese, Evonik, Phillips 66, and others).
We discuss relevant ESG items ranging from global ammonia demand from clean-energy applications to a lack of proper planning in renewables. See our latest ESG weekly and other related research coverage in LINK.
We discuss numerous other pertinent chemical sector items in this report.

Woah – April CPI Growth Moderates Relative To March; 2022 Demand Concerns Remain High

Woah – April CPI Growth Moderates Relative To March; 2022 Demand Concerns Remain High

Global chemical sector profit remains varied by product chain, region, and level of feedstock integration, but product prices are broadly higher YoY. We expand upon our April research on price inflation and other market trends.
We highlight pertinent energy, chemical, and other corporate updates (e.g., Brenntag, ICL, Occidental, PTTGC, Danimer Scientific, Synalloy, & others).
We discuss relevant ESG items ranging from Siemens Gamesa issues to IEA research expecting solar PV to lead renewable market developments in 2022/23. See our ESG weekly and other related research coverage in LINK.
We discuss numerous other pertinent chemical sector items in this report.

Gasoline – Consumer Budget Shifts Are A Growing Risk Facing Chemical Sector Efforts To Raise Prices

Gasoline – Consumer Budget Shifts Are A Growing Risk Facing Chemical Sector Efforts To Raise Prices

Chemical price hike initiatives to recapture margin amid cost inflation and material shortages are in motion while consumer demand headwinds continue to mount. We discuss record-high US gasoline prices, among other findings.
We highlight pertinent energy, chemical, and other corporate updates (e.g., Univar, IFF, Asian Paints, Archaea Energy, Gevo, Origin Materials, others).
We discuss relevant ESG items that range from multiple clean energy 1Q result reports to numerous sector global project announcements and updates. See our ESG weekly and other related research coverage in LINK.
We discuss numerous other pertinent chemical sector items in this report.

what we are saying about tomorrow

ESG, Recycling & climate 

ESG Pledges Mount in Earnings and Sustainability Reports; Unclear How Many Are Viable & Supported By Real Action Plans

ESG Pledges Mount in Earnings and Sustainability Reports; Unclear How Many Are Viable & Supported By Real Action Plans

Corporate quarterly and sustainability reports are full of good intentions and targets, but most remain theoretical – we question the viability of many plans.
While 2030 targets provide plenty of timing flexibility, a late-decade rush could make logistic bottlenecks worse than those seen today – a plus for cost inflation.
First-mover advantages today are likely limited unless customers will pay for greener products, but benefits may arise for those beating the investment peak.
There is a little more action in the US, with a Republican Caucus on climate change and energy transition forming post the API carbon tax proposal.
Otherwise, we look at alternative polymers, significantly more studies around US CCS, more wind problems, and renewable power price inflation in Europe.

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what we are covering

Sunday Thematic & weekly recap 

The Winners & Losers From A Consumer Slowdown

The Winners & Losers From A Consumer Slowdown

Some commodity material markets are better positioned than others to withstand a consumer spending slowdown amid rampant cost inflation.  
Winning commodities will likely be levered more to energy security/transition, re-shoring, and infrastructure, than those more levered to discretionary spending.
Stock markets may react to a consumer-driven slowdown by cutting commodity exposure, despite favorable long-term fundamental trends for many commodities.
One sector relatively immune is agriculture; crop shortages remain significant – all in the chain should benefit from higher prices at the expense of food inflation.
Otherwise, we discuss the recent squeeze in US olefins margins, more on the desire for LNG and its challenges, and several notable ESG corporate claims.

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