US polyethylene contract prices show an upward trend relative to spot values as exports have risen compared to domestic demand, becoming less linked to the
North American polyethylene (PE) exports will likely hit a record level in 2023, enabled by its sizable cost advantage relative to Asia and Europe—global PE
2023 is off to a bad start with low margins (but maybe not low enough) and global operating rates reflecting significant oversupply, which could worsen.
As chemical product availability increased, US spot polymer premiums relative to Asia mostly dissipated in 2H22. Domestic contract premiums are likely the next to drop.