- Sasol’s spot earnings continue to increase and are 14% for FY21 and are at R9.15/share. Oil prices were 1.2% higher and while refining margins dropped back 14% and remain at very low levels. Petrol cracks remain below R2.00/bbl.
- Asian polymer prices have increased significantly following monomer prices higher. Polyethylene prices increased by 8.4% and by 12.9%. Monomer prices continued to move higher. US polyethylene prices remain subdued however and are well below Asian prices, but ethylene prices increased by 17%.
Global chemical news
- While prices continue to lag prices in Asia plastic traders report that markets are resilient and overcoming year end negative sentiment. Strong export demand is also supporting prices and reducing inventories (link).
- LyondellBasell acquired a Belgium recycling company, TIVACO, supporting its quest to produce and market 2 million tons of recycled and renewable plastics by 2030 (link).