General Thoughts: Downward price pressure across global chemical markets will likely persist through 4Q25 unless production curtailments intensify, with recent outperformers facing greater downside risk
1st Topic of the Week: Carbon should be considered a strategy instead of waste. Can industries mastering capture, re-use, and integration turn decarbonization from a
General Thoughts: Chemical feedstock dynamics increasingly signal a global inflection; margin compression forcing strategic resets, capital discipline, and system-wide realignment across industrial value chains.
Supply
General Thoughts: Global chemical markets hinge on resilience over growth, as volatility, protectionism, and uneven rationalization redefine competitive advantage more profoundly than price or demand
2025 increasingly appears to mark the cyclical and structural bottom in construction materials, as collapsing completions and tightening inventories set the stage for affordability-driven recovery
General Thoughts: Deep feedstock-to-chemical integration is not just a strategy—it is accelerating structural disruption and holds the potential to redraw the map of global industrial
We argued that ammonia prices had returned to a holding pattern following their rise in 2H23 – demand-driven upside risk looks limited in the near
ExxonMobil’s view of energy supply in 2050 should be taken seriously by all because its hydrocarbon forecast is driven by shortfalls elsewhere – we agree.
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