US chem stocks fall despite big recovery on Dow Jones

HOUSTON (ICIS)–US-listed chemical stocks followed by ICIS mostly failed to match Monday’s turnaround on the major indices in the US, which opened the day much lower after President Donald Trump threatened to impose more tariffs on Chinese exports.

The Dow Jones Industrial Average closed at 26,438.48, down 66.47 points or 0.25%. Earlier, it traded as low as 26,033.95, down 471 points or 1.77%.

The rebound came after reports that China still plans to send a trade delegation to the US.

The two sides are reportedly close to reaching a trade deal.

For the most part, chemical stocks failed to stage a similar comeback as the general market. The Dow Jones US Chemicals Index closed at 616.12, down 9.75 points or 1.56%. During the day, it traded in a range of 612.25-623.68.

Similarly, the S&P 500 Chemicals Industry Index closed at 595.01, down 9.29 points or 1.54%. It traded in a range of 592.05-604.30.

Chemical companies are much more exposed to disruptions in trade. In the US, many companies expanded capacity well beyond domestic demand. They intended to export their surplus product, with China being the main destination.

Stock markets in Europe also closed lower. Asian markets fell sharply.

The declines followed Trump’s threat to raise tariffs to 25% from 10% on $200bn worth of Chinese imports. The higher tariffs would kick in on Friday if the two sides do not make progress on trade talks, Trump said.

Trump also threatened to expand the scope of the tariffs by imposing 25% duties on an additional $325bn worth of Chinese imports. Trump did not specify the products or the timeframe.

The following table shows the performance of the US stocks followed by ICIS.

Name	$ Current Price	$ Change	% Change
The Chemours Co	31.61	-2.57	-7.52
Tronox Holdings PLC	12.79	-0.59	-4.41
DowDuPont Inc	33.62	-1.27	-3.64
Kronos Worldwide Inc	12.91	-0.48	-3.58
Venator Materials PLC	5.93	-0.22	-3.58
Kraton Corp	31.92	-1.13	-3.42
Huntsman Corp	20.92	-0.66	-3.06
Eastman Chemical Co	77.23	-2.32	-2.92
AdvanSix Inc	32.42	-0.95	-2.85
Phillips 66	87.03	-2.53	-2.82
Trinseo SA	45.15	-1.31	-2.82
Braskem SA ADR repr Class A	22.88	-0.60	-2.56
Westlake Chemical Corp	61.99	-1.51	-2.38
Valero Energy Corp	86.39	-2.05	-2.32
LyondellBasell Industries NV	85.21	-1.81	-2.08
Olin Corp	20.93	-0.41	-1.92
PBF Energy Inc Class A	33.7	-0.58	-1.69
FMC Corp	76.25	-1.30	-1.68
Cosan Ltd	11.99	-0.20	-1.64
Cabot Corp	46.19	-0.72	-1.53
The Mosaic Co	25.27	-0.35	-1.37
DCP Midstream LP	30.37	-0.42	-1.36
PQ Group Holdings Inc	15.8	-0.21	-1.31
Linde PLC	178.63	-2.33	-1.29
Nutrien Ltd	53.3	-0.69	-1.28
Methanex Corp	52.36	-0.67	-1.26
PPG Industries Inc	116.29	-1.34	-1.14
Ecopetrol SA ADR	17.9	-0.20	-1.11
Petroleo Brasileiro SA Petrobras ADR	14.86	-0.15	-1.00
Bunge Ltd	50.65	-0.50	-0.98
CF Industries Holdings Inc	43.8	-0.42	-0.95
Element Solutions Inc	11.17	-0.10	-0.89
Celanese Corp	107.82	-0.95	-0.87
Marathon Petroleum Corp	59.49	-0.47	-0.78
Sherwin-Williams Co	452.4	-3.51	-0.77
Ingevity Corp	103.7	-0.79	-0.76
Ecolab Inc	183.64	-1.36	-0.74
Enterprise Products Partners LP	28.55	-0.20	-0.70
Axalta Coating Systems Ltd	26.71	-0.18	-0.67
H.B. Fuller Co	49.2	-0.25	-0.51
Exxon Mobil Corp	77.13	-0.34	-0.44
Alerian MLP ETF	9.86	-0.04	-0.40
Ultrapar Participacoes SA ADR	5.39	-0.02	-0.37
RPM International Inc	60.99	-0.22	-0.36
PolyOne Corp	27.9	-0.04	-0.14
NewMarket Corp	424.41	-0.27	-0.06
Albemarle Corp	77.05	0.00	0.00
Valvoline Inc	18	0.00	0.00
Ashland Global Holdings Inc	76.01	0.03	0.04
Dow Inc	53.46	0.16	0.30
Sociedad Quimica Y Minera De Chile SA ADR	36.44	0.15	0.41
W R Grace & Co	76.85	0.34	0.44
Westlake Chemical Partners LP	22.9	0.25	1.10
Stepan Co	92.17	1.13	1.24
Occidental Petroleum Corp	58.77	0.82	1.42
Calumet Specialty Products Partners LP	3.65	0.15	4.29

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