by Gerhard Engelbrecht | Apr 17, 2020 | Chemicals
Spot earnings for FY21 dropped down to a loss of R22.51/share this week due to lower oil prices but also the significant decline in crack spreads in recent weeks. Petrol cracks remain at negative $5.7/bbl, but diesel cracks have now dropped and are close to...
by Gerhard Engelbrecht | Apr 14, 2020 | Chemicals
World Petrochemical Conference: In the last week, IHS hosted the World Petrochemical conference online, forums continue into this week.Weak outlook for chemicals: The outlook for chemical profitability remains extremely weak. Global capacity...
by Gerhard Engelbrecht | Apr 8, 2020 | Chemicals
Key assumption changes: We have adjusted our key assumptions for the remainder of FY20 and FY21 and have lowered our FY20 HEPS estimate by 64% to R3.30/share. We have trimmed the FY21 estimate by 3% to R19.15 as the weaker rand offsets lower prices....
by Gerhard Engelbrecht | Apr 6, 2020 | Chemicals
Asian polymer prices lower: Asian polymer prices, reported this morning, moved sharply lower and only PVC prices did not decline. LDPE prices were 5% lower at $840/t while LLDPE prices declined 13% to $680/t. Polypropylene prices were 8% lower at $800/tUS prices...
by Gerhard Engelbrecht | Apr 3, 2020 | Chemicals
Spot earnings for FY21 dropped down to a loss of R14.74/share this week despite the increase in the oil price last night. The oil price increase is not reflected in published product prices and refining margins declined by 52.5% from last week. Petrol...
by Gerhard Engelbrecht | Mar 30, 2020 | Chemicals
Asian polymer prices steady: Asian polymer prices, reported this morning, are still holding up reasonably well as LDPE prices declined by 2.2% to $880/t, LLDPE prices declined by 1.8% to $785/t and polypropylene declined by 2.8% to $870/t.US prices also steady: US...
