Contract pricing is emerging as the governing signal in constrained markets, embedding access, timing, and supply assurance, while spot pricing reflects residual, uncommitted liquidity pools.
General Thoughts: Contracts function as synthetic inventory amid tight supply, with tightening availability compressing discounts and pulling realized pricing toward benchmarks ahead of delayed pass-through.
General Thoughts: Most chemical producers anticipate a better year in 2024, driven by improving end-demand outside the US, notably in 2H24 – the impact of
Global chemical markets will likely remain oversupplied in 2024. However, the trade balances between regions will likely further shift, with Europe being one of the
C-MACC Co-Founder Cooley May is attending the Ammonia Energy Association conference this week, with his meetings spanning ammonia suppliers, buyers, and their support industries.
Ammonia
US consumer sentiment fell for the fourth consecutive month in November, and adverse clean energy participant notices have risen – both favor lower energy transition
The C-MACC Clean Energy Minerals Monthly Price Index fell ~6% MoM in April to reflect a 34% lower YTD level, with falling lithium values being
Falling production costs and higher prices favored the US commodity chemical sector in 1Q, beating most estimates – we see more potential to disappoint than
North American petrochemical margins have improved YTD, but volume trends suggest most producers are still at sub-optimal rates despite the global cost curve shifting further
Both C-MACC co-founders will attend CERAWeek. Our initial view of the agenda suggests a heavy focus on energy transition, but other relevant themes are present.
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