- Sasol’s spot earnings are slightly higher this week as the oil prices moved higher. Crack spreads were lower, however. Spot earnings for FY21 are at R8.69/share and at spot prices the LCCP earns a loss of R4.31/share.
- Polyethylene prices were higher in Asia, but ethylene prices moved sharply lower. In the USA prices in the ethylene value chain were generally flat as was the price of ethane.
Global chemical news
- The use of flexible plastic packaging is set to increase by 8% in the US this year as reusable items are deemed to be unsafe in the current environment (link).
- Shell is pausing its recall of construction workers at its polyethylene (PE) project in Pennsylvania state in the US because of growing cases of coronavirus in the region, a company official said on Thursday. The company had been gradually recalling workers after it suspended work at the site on 18 March, in response to the coronavirus (link).