Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
Sasol: Diverging chemical prices – more profit upside
Supply chain bottlenecks have seen a large price divergence between US and Asian petrochemical prices. There is upside to our earnings estimates if price spreads remain at current levels.
Forestry & Paper: Textiles Fibre Weekly Update
Key message: Cotton and VSF in the green, while polyester was in the red. Domestic DWP prices play catch-up to imports.
Forestry & Paper: Industry Insights
Key message: Smurfit Kappa expands corrugated network in South America and Palm set to start production at its new 750ktpa testliner machine.
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Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s earnings for FY22 and FY23 assuming spot prices remained until the end of FY23
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PPC – FY21 Trading Update
Key message: FY21 will be a messy result, but underlying cement operations are experiencing strong demand with price increases holding. Expect margin guidance of +20% in the SA cement business.
Forestry & Paper: Weekly Price Update
Key message: Pulp price jumps 4-7% in Europe, squeezing graphic paper margins further. Two new cash settled pulp futures launched, with prices expected to drop by 11-17% in CY 22E.
Forestry & Paper: Navigator Q1 21A Insight (UWF & Pulp)
Key message: Weak quarter due to maintenance. UWF and Pulp outlook encouraging. April UWF order books at a historical high.
Afrimat – FY21 Results
https://chronuxresearch.com/wp-content/uploads/2021/06/AFT-0621-FY21-Results.pdf