• Sasol’s spot earnings declined as oil prices and refining margins in particular were lower this week.  Spot earnings for FY21 is at R5.01/share.  Singaporean petrol spreads weakened amid new COVID-19 cases as well as floods in India and China (link)..
  • Polymer prices have been relatively stable in Asia, but prices have continued to rise in North America.  LLDPE and HDPE prices are now around 35% higher than prices achieved in April.  LDPE prices which have been most resilient through the downturn are up 15% since April.

Global chemical news

  • Total reported 2Q results and although chemicals are not reported separately the company reported resilient petchem margins.  Polymer production grew 6% YoY and US petchem production was 34% higher but 2Q19 was impacted by maintenance shuts (link).
  • ChemOrbis reports that buying interest in Chinese PE markets have started to fade after a strong nine-week rally.  Supply is also increasing as plants are starting after maintenance shuts (link).