US-listed chem shares plunge as Dow falls over 3%
Al Greenwood
24-Feb-2020
HOUSTON (ICIS)–US-listed shares of chemical stocks fell sharply in the late morning on Monday as the Dow Jones Industrial Average fell by nearly 930 points, amid fears that the coronavirus (Covid-19) will become a pandemic.
The index was trading at 28,064.51, down by 3.20%.
The S&P 500 was trading at 3,233.67, down 3.12% or 104 points.
US chemical indexes were down sharply as shown in the following table.
| Index | Price | Decline | % |
| Dow Jones US Chemicals Index | 620.90 | -21.43 | -3.34% |
| S&P 500 Chemicals Industry Index | 618.84 | -18.56 | -2.91% |
Only one US-listed stock followed by ICIS was trading higher in the late morning. That stock was Westlake Chemical Partners, which operates three ethylene plants that supply feedstock to Westlake Chemical. It was up by 0.26%
Every other US-listed stock followed by ICIS was trading lower. The biggest loss was nylon 6,6 producer AdvanSix, which was down by 8.55%.
Earlier, European chemical stocks and crude prices were down sharply.
The declines in the stock market come amid fears that the coronavirus may not be contained, with more cases arising in South Korea and Italy.
Italy became the third-worst affected country, prompting the government to lock down several towns in the northern regions of Veneto and Lombardy, with around 50,000 people unable to leave without special permission.
The International Monetary Fund (IMF) has already lowered its estimate for Chinese and global GDP growth for 2020.
In China, prices of most petrochemicals traded lower on Monday morning, with the short-term outlook still largely grim.
ICIS estimates that the coronavirus could could reduce the country’s gasoline and gasoil apparent demand in the first quarter of 2020 by about 30% year on year to around 48m tonnes.
The following shows a list of the US-listed stocks followed by ICIS.
| Name |
$ Current
Price | $ Change | % Change |
| AdvanSix Inc | 16.26 | -1.52 | -8.55 |
| Albemarle Corp | 88.7 | -3.73 | -4.04 |
| Alerian MLP ETF | 7.49 | -0.17 | -2.16 |
| Ashland Global Holdings Inc | 79.1 | -2.13 | -2.62 |
| Axalta Coating Systems Ltd | 28.12 | -0.91 | -3.12 |
| Braskem SA ADR repr Class A | 13.61 | -0.31 | -2.23 |
| Braskem SA ADR repr Class A | 13.61 | -0.31 | -2.23 |
| Bunge Ltd | 52.57 | -0.67 | -1.25 |
| Cabot Corp | 41.13 | -1.84 | -4.28 |
| Calumet Specialty Products Partners LP | 4.04 | -0.1 | -2.38 |
| Celanese Corp Class A | 104.46 | -3.52 | -3.26 |
| CF Industries Holdings Inc | 38.14 | -1.21 | -3.08 |
| Corteva Inc | 30.54 | -0.68 | -2.18 |
| Cosan Ltd | 19.69 | -0.89 | -4.32 |
| DCP Midstream LP | 18.28 | -0.87 | -4.54 |
| Dow Inc | 46.27 | -2.03 | -4.2 |
| DuPont de Nemours Inc | 50.39 | -2.04 | -3.89 |
| Eastman Chemical Co | 71.01 | -2.59 | -3.52 |
| Ecolab Inc | 205.17 | -2.33 | -1.12 |
| Ecopetrol SA ADR | 19.33 | -0.87 | -4.31 |
| Element Solutions Inc | 11.33 | -0.72 | -5.98 |
| Entegris Inc | 54.55 | -2.41 | -4.23 |
| Enterprise Products Partners LP | 25.1 | -0.85 | -3.28 |
| Exxon Mobil Corp | 57.1 | -2.03 | -3.43 |
| FMC Corp | 102.04 | -4.55 | -4.27 |
| H.B. Fuller Co | 45.72 | -1.75 | -3.69 |
| Huntsman Corp | 20.04 | -0.86 | -4.12 |
| Ingevity Corp | 54.98 | -3.51 | -6 |
| Kraton Corp | 14.79 | -1.17 | -7.3 |
| Kronos Worldwide Inc | 11.22 | -0.24 | -2.09 |
| Linde PLC | 211.1 | -7.24 | -3.32 |
| LyondellBasell Industries NV | 79.54 | -3.37 | -4.06 |
| Marathon Petroleum Corp | 55.91 | -3.23 | -5.45 |
| Methanex Corp | 31.89 | -1.8 | -5.34 |
| NewMarket Corp | 420.57 | -4.07 | -0.96 |
| Nutrien Ltd | 41.84 | -0.72 | -1.69 |
| Occidental Petroleum Corp | 40.27 | -1.85 | -4.39 |
| Olin Corp | 18.25 | -0.81 | -4.25 |
| PBF Energy Inc Class A | 25.22 | -2.04 | -7.48 |
| Petroleo Brasileiro SA Petrobras ADR | 13.14 | -0.89 | -6.34 |
| Phillips 66 | 86.23 | -2.99 | -3.35 |
| PolyOne Corp | 28.61 | -0.99 | -3.34 |
| PPG Industries Inc | 115.64 | -3.26 | -2.74 |
| PQ Group Holdings Inc | 14.9 | -0.35 | -2.26 |
| RPM International Inc | 72.74 | -1 | -1.36 |
| Sherwin-Williams Co | 567.79 | -5.82 | -1.01 |
| Sociedad Quimica Y Minera De Chile SA ADR | 29.83 | -2.02 | -6.34 |
| Stepan Co | 97.5 | -3.16 | -3.14 |
| The Chemours Co | 18.49 | -0.96 | -4.91 |
| The Mosaic Co | 18.93 | -0.26 | -1.35 |
| Trinseo SA | 26.85 | -1.23 | -4.38 |
| Tronox Holdings PLC | 8.88 | -0.82 | -8.45 |
| Ultrapar Participacoes SA ADR | 4.65 | -0.21 | -4.23 |
| Valero Energy Corp | 78.31 | -4.62 | -5.57 |
| Valvoline Inc | 21.96 | -0.38 | -1.7 |
| Venator Materials PLC | 3.55 | -0.29 | -7.55 |
| W R Grace & Co | 60.44 | -2.4 | -3.81 |
| Westlake Chemical Corp | 59.75 | -2.19 | -3.53 |
| Westlake Chemical Partners LP | 23.37 | 0.06 | 0.26 |
Additional reporting by Yiting Tang, Jonathan Lopez, Fanny Zhang and Nurluqman Suratman
Thumbnail image is an illustration of stock-market activity. Graphic by Shutterstock.
Visit the ICIS Coronavirus topic page for analysis of the impact on chemical markets and links to latest news.
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Contact us
Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.
Contact us to learn how we can support you as you transact today and plan for tomorrow.
READ MORE
