US chem stocks close lower as Dow Jones falls 2.38%
Al Greenwood
13-May-2019
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%.
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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