US chem stocks close lower as Dow Jones falls 2.38%

Source: ICIS News

2019/05/13

HOUSTON (ICIS)--The shares of US-listed chemical companies followed by ICIS closed sharply lower on Monday as the Dow Jones Industrial Average fell by more than 2.3%.

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The declines followed China's announcement that it would increase tariffs on several billions of dollars of US imports.

China's announcement was in response to the US increasing tariffs to 25% from 10% on goods from that country.

Both countries dusted off older tariff proposals. Earlier in 2018, the US had initially proposed 25% tariffs on $200bn of Chinese imports.

China responded with its own proposal, under which it would impose tariffs on $60bn worth of US goods under a four-tiered system of 5%, 10%, 20% and 25%.

When the US imposed a smaller tariff, China responded similarly. When the US adopted its earlier and more onerous tariff, so did China.

Chemical producers are especially dependent on exports, making their stocks vulnerable to higher tariffs.

The Dow Jones US Chemicals Index closed at 588.99, down 15.47 points or 2.56%. The SP 500 Chemicals index fell to 570.70, down 13.81 points or 2.36%.

The Dow Jones Industrial Average fell to 25,324.99, down 617.38 or 2.38%.The S&P 500 fell to 2,811.87, down 69.53 points or 2.41%.

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

Name $ Current

Price

$ Change % Change
Venator Materials PLC 4.79 -0.55 -10.30
Tronox Holdings PLC 10.38 -0.84 -7.49
PBF Energy Inc Class A 28.33 -2.01 -6.62
The Chemours Co 25.32 -1.65 -6.12
Trinseo SA 40.86 -2.62 -6.03
Albemarle Corp 68.55 -4.08 -5.62
FMC Corp 74.99 -4.45 -5.60
Ingevity Corp 92.63 -5.40 -5.51
Cabot Corp 44.01 -2.51 -5.40
AdvanSix Inc 27.62 -1.50 -5.15
H.B. Fuller Co 44.11 -2.25 -4.85
Kraton Corp 28.57 -1.41 -4.70
Marathon Petroleum Corp 50.72 -2.43 -4.57
Kronos Worldwide Inc 12.89 -0.61 -4.52
Element Solutions Inc 10.64 -0.50 -4.49
Olin Corp 20.30 -0.93 -4.38
Westlake Chemical Corp 58.34 -2.66 -4.36
Eastman Chemical Co 72.52 -3.26 -4.30
The Mosaic Co 22.91 -0.99 -4.14
Celanese Corp 99.15 -4.21 -4.07
Ultrapar Participacoes SA ADR 5.27 -0.22 -4.01
Dow Inc 50.95 -2.12 -3.99
DowDuPont Inc 30.24 -1.24 -3.94
Nutrien Ltd 50.09 -2.04 -3.91
Huntsman Corp 19.72 -0.79 -3.85
Methanex Corp 47.17 -1.87 -3.81
RPM International Inc 56.53 -2.20 -3.75
LyondellBasell Industries NV 79.90 -2.76 -3.34
Cosan Ltd 11.37 -0.39 -3.32
PolyOne Corp 25.90 -0.89 -3.32
Petroleo Brasileiro SA Petrobras ADR 14.35 -0.46 -3.11
Braskem SA ADR repr Class A 19.71 -0.58 -2.86
Stepan Co 86.85 -2.47 -2.77
Valero Energy Corp 81.41 -2.32 -2.77
Ashland Global Holdings Inc 74.07 -1.85 -2.44
Bunge Ltd 52.49 -1.27 -2.36
NewMarket Corp 411.97 -9.88 -2.34
PQ Group Holdings Inc 15.54 -0.35 -2.20
Axalta Coating Systems Ltd 25.40 -0.55 -2.12
Sherwin-Williams Co 430.89 -9.03 -2.05
CF Industries Holdings Inc 40.82 -0.80 -1.92
Sociedad Quimica Y Minera De Chile SA ADR 34.32 -0.67 -1.91
Ecopetrol SA ADR 18.29 -0.35 -1.88
W R Grace & Co 73.39 -1.28 -1.71
Ecolab Inc 178.23 -2.84 -1.57
Valvoline Inc 17.85 -0.28 -1.54
Occidental Petroleum Corp 54.17 -0.80 -1.46
Westlake Chemical Partners LP 22.16 -0.30 -1.34
Alerian MLP ETF 9.79 -0.12 -1.21
Exxon Mobil Corp 75.71 -0.85 -1.11
Phillips 66 85.79 -0.86 -0.99
Enterprise Products Partners LP 28.47 -0.26 -0.91
PPG Industries Inc 111.25 -0.99 -0.88
Linde PLC 180.68 -0.91 -0.50
DCP Midstream LP 32.13 -0.13 -0.40
Calumet Specialty Products Partners LP 3.95 -0.01 -0.25

(updates with closing prices)

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