Structure, not scale, determines valuation, capital access, and resilience as oversupply, policy volatility, and higher rates punish complexity yet reward clarity, focus, optionality, disciplined execution,
1st Topic of the Week: Water scarcity is AI’s hidden bottleneck, transforming data centers into hydrology-dependent assets. Will industry leaders secure resilient water strategies or
1st Topic of the Week: Global critical mineral market weakness exposes a more profound crisis: the West chases costly extraction as China solidifies its control
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,
Building & construction product producers stand to benefit if the shortage of houses on the market spurs new home development, despite higher interest rates/lower buyer
Some European chemical producers have seen costs decline YTD relative to others. However, our global market study shows Europe overall in a more difficult spot
The considerable downward pressure on global lithium prices YTD will likely push the C-MACC critical mineral index for April lower MoM, though its other components
The projection at the WPC this week that polyethylene capacity will only operate at 80% rates in 2023 needs the context that this has not
Was the IRA really intended to support the idea of banks of expensive electrolyzers sitting idle for 70% of the day? Profitable but a poor
The Shell 4Q22 business update, similar to the one from ExxonMobil, shows much weaker chemical than profit upstream but depicts significant integration benefits.
We discuss
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