Daily Chemical Reaction From Methanol to Graphite: Low-Cost Producers Thrive as Non-Integrated Buyers Face Mounting Risks Key Findings Exhibit 1: Methanex posts its highest
In our view, those calling for a quick end to fossil fuel use and simultaneously vilifying the oil and gas industry are likely condemning energy
NW Europe and US electricity price strength relative to natural gas supports our view that higher prices are needed to spur green product growth compared
The crude oil price rebound in 2H23 lifted global commodity chemical prices, favoring North American profit relative to Asia and Europe. Its impact on specialty
Chemical sector followers are looking past 3Q23 reports to profit indicators for 4Q and 1H24 – visibility is limited, suggesting crude oil movements will be
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,
China chemical producers and refineries will likely benefit from discounted Russian crude in 2023 – a plus for its global competitive position and low relative
Our theme around the possible need for backward integration for all basic chemical producers as energy transition evolves was validated by INEOS this week.
INEOS
The North American chemical producer cost advantage remains significant relative to overseas peers, as is the case for domestic energy producers, suggesting sizable integration benefits.
Production cuts in 2H22 helped trim inventories and lift chemical prices in early 2023 – we discuss recent propylene and polypropylene price trends and headwinds
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