Global Market Analysis
General Thoughts: The US feedstock advantage has eased from shock peaks, but Europe and Asia ex-China remain exposed, with naphtha and gas costs still limiting
June 23, 2026
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General Thoughts: The US feedstock advantage has eased from shock peaks, but Europe and Asia ex-China remain exposed, with naphtha and gas costs still limiting
General Thoughts: Weak returns are forcing strategic repair as producers separate, combine, or reposition assets to improve risk-adjusted returns rather than wait for cleaner demand,
Regional and local electricity price inflation has become a signal of global competitiveness, as sticky power prices push buyers toward lower-cost supply options, while some
General Thoughts: Broad fuel inflation keeps pressure visible at the pump, but diesel’s premium sends the harder cost hit toward farms, freight, and delivered-product markets.
Chemical and polymer prices have retreated from peak 1H26 levels, but many remain above January levels, leaving buyers to judge whether relief is temporary or
General Thoughts: Supply risk is keeping many chemical chains biased upward, with MDI markets showing how outage timing and system availability can sustain hikes even
1st Topic of the Week: Brand-backed resin platforms should beat standalone recycling capacity when dedicated offtake, certified content, virgin performance, and converter proof make compliance
General Thoughts: Waha’s discount reflects trapped Permian gas value, but lower crude, new takeaway, and rising demand could shift more of the upside to pipeline
Apparent manufacturing stability masks shrinking usable capacity as liquidity, logistics, affordability, and operating reliability outrank installed production capability across industrial systems.
Industrial survival increasingly depends
1st Topic of the Week: Power scarcity is turning sustainability into an integration race, rewarding platforms that control fuel, wires, capacity, permitting, and ratepayer risk
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