1st Topic of the Week: Copper markets reward execution reliability, with consistent throughput, integrated infrastructure, and delivery visibility driving premiums over assets exposed to operational
General Thoughts: Lotte’s Daesan spin-off signals forced restructuring across high-cost regions, where policy-backed capital enables consolidation and shifts value toward integrated, advantaged platforms.
Supply Chain/Commodities:
General Thoughts: Continued US economic strength in 2024 and Europe and China moving from a weak 1H24 to improving conditions in 2H24 is a chemical
NW Europe ammonia prices increased this week but not at the pace of its production costs, a positive development for global ammonia price support and
Non-integrated commodity chemical and specialty producers faced more input cost pressure in 3Q than planned mid-year due to higher feedstock costs and, in some cases,
European polypropylene prices are at a premium to the US and Asia, but integrated producer profit in this region is among the lowest globally. Production
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