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what we are talking about today

Daily Chemical Reaction

Blue Is The Color, Hydrogen Is The Game…

Hydrogen market developments are a cornerstone to many global climate goals. We discuss a sizable Air Products blue hydrogen facility development in East Louisiana and the forming of market trends worth consideration.     
We flag pertinent chemical sector corporate updates (e.g., Air Products, Trinseo, Celanese, BASF, ExxonMobil, Hanwha, Haldor Topsoe & others).  
We compare US total rail traffic to US chemical rail traffic, note several relevant consumer demand statistics, and discuss commodity chemical trends.
We highlight several ESG items worth mention, ranging from a few sector initiative updates to our ESG research discussing paths to net zero emissions.
We note numerous other relevant chemical sector items in this report.

You’ve Got A Friend – USGC Propylene Prices Fall, Friends Collectively Emerge To Curb Downside Risk

US polymer-grade propylene values have fallen from 3Q21 highs to reach their lowest level since May 2021. We expected US spot PGP values to decline into 4Q but now flag a few emerging support items curbing downside risk.  
We flag pertinent chemical sector corporate updates (e.g., Avantor, BASF, Petronas Chemicals, Reliance, Lanxess, BP, OCI, Sharq & others).
We find relevant ESG items worth mentioning, ranging from EU carbon value movements to IEA energy targets discussed in our ESG report in LINK.
We note numerous other pertinent chemical sector items in this report.

Puff The Magic Dragon – China Production Cuts Spur The Value Of Numerous Commodities; PVC In Focus

China Polyvinyl Chloride (PVC) spot values spiked higher recently due to production cuts linked to China energy policy. We discuss several Chlor-vinyl market trends worth notice along with other chemical sector developments.   
We flag pertinent chemical sector corporate updates (e.g., Repsol, LG Chem, BASF, Chevron, ExxonMobil, Givaudan, Arkema, Gevo, and others).
We find varied ESG items worth mentioning, ranging from the IEA’s methane emission comments to multiple significant global strategic updates.
We note numerous other pertinent chemical sector items in this report.

what we are saying about tomorrow

ESG, Recycling & climate 

China: A Challenge With 2060 Goal But Also A Possible Edge

The IEA study on China’s 2060 net-zero goals concludes that the pathway is theoretically possible but it will require sizable investment and new technologies.
The delay to 2026 means that not much happens before 2040 as the country continues to grow its economy. The West will be spending billions over that period.
China stands to gain from the learning curve pains in the West and could end up spending less per ton of carbon abated as a consequence – tariffs may be needed to protect other countries from even cheaper (relative) Chinese goods.
COP26 rhetoric is rising – we see progress on the acceptability of (clean) natural gas as a longer-term fuel as the most positive move that could be made.
Otherwise, we look at battery vs hydrogen storage, making a case for hydrogen.

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what we are covering

Sunday Thematic & weekly recap 

Damned if you Dow and Damned if you Down’t.  Hard to win

We discuss our positive view of Dow’s strategic moves to produce low-cost low carbon polyethylene in Canada while also expanding capacity. 
Western commodity chemical companies likely face lower profits in 2022/23 than 2021 and stiff ESG headwinds – this is keeping investor sentiment depressed.
Since introducing its carbon tax plans, Canada has attracted significant net investment – US Congress should take note as this could have been US investment
Our ESG research this week discussed the IEA study on China’s 2060 goals and why China could gain from the learning curve pains of Western peers.
Our daily research this week targeted falling Western Chemical profit.

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