US chem shares fall despite rally in oil prices
Juhi Varma
12-May-2020
HOUSTON (ICIS)–US-listed shares of chemical companies fell on Tuesday despite a rise in oil prices amid Saudi Arabia’s decision to exercise deeper production cuts.
The table below shows oil prices.
| Name | 12 May | 11 May | Change |
| Brent July | 29.98 | 29.63 | 0.35 |
| WTI June | 25.78 | 24.14 | 1.64 |
The following shows the US-listed shares followed by ICIS.
| Name |
$ Current Price | $ Change | % Change |
| AdvanSix Inc | 11.39 | -0.13 | -1.13 |
| Axalta Coating Systems Ltd | 19.65 | 0.03 | 0.15 |
| Braskem SA ADR repr Class A | 7.11 | -0.6 | -7.78 |
| Celanese Corp Class A | 77.85 | -2.16 | -2.7 |
| Dow Inc | 33.79 | -0.11 | -0.32 |
| DuPont de Nemours Inc | 45.68 | -0.52 | -1.13 |
| Eastman Chemical Co | 61.51 | -0.22 | -0.36 |
| H.B. Fuller Co | 34.41 | -1.41 | -3.94 |
| Huntsman Corp | 15.12 | -0.7 | -4.42 |
| Ingevity Corp | 47.68 | -3.21 | -6.31 |
| Kraton Corp | 12.52 | -1.73 | -12.14 |
| Kronos Worldwide Inc | 9.27 | -0.12 | -1.28 |
| LyondellBasell Industries NV | 55.86 | -0.2 | -0.36 |
| Methanex Corp | 15.04 | -0.17 | -1.12 |
| NewMarket Corp | 422.87 | -8.25 | -1.91 |
| Olin Corp | 12.45 | -0.22 | -1.74 |
| PolyOne Corp | 21.53 | -1.03 | -4.57 |
| PPG Industries Inc | 87.63 | -2.79 | -3.09 |
| RPM International Inc | 68.59 | -0.71 | -1.02 |
| Sherwin-Williams Co | 553.46 | -5.38 | -0.96 |
| Stepan Co | 91.01 | -2.62 | -2.8 |
| The Chemours Co | 11.96 | -0.65 | -5.15 |
| Trinseo SA | 18.2 | -1.37 | -7 |
| Tronox Holdings PLC | 6.85 | -0.2 | -2.84 |
| Univar Solutions Inc | 13.37 | -0.89 | -6.24 |
| Venator Materials PLC | 1.28 | -0.03 | -2.29 |
| Westlake Chemical Corp | 41.59 | -0.98 | -2.3 |
There are now a total of 1,342,594 coronavirus cases in the US, with 18,106 new cases according to the latest data from the US Centers for Disease Control and Prevention (CDC).
Globally, there are more than 4.3m confirmed cases, according to the World Health Organization (WHO).
US May maleic anhydride (MA) is heard to be under pressure amid low feedstock costs and demand headwinds.
US May epoxy is facing pressure from imports and headwinds in demand.
Mexican industrial activity declined again in March, by 3.4%.
The US Energy Information Administration released its latest short-term energy outlook, forecasting US crude oil production to average 11.7m bbl/day in 2020.
NYMEX WTI crude futures for June delivery settled at $25.78/bbl, up $1.64.
The general stock market fell, as shown in the table below.
| Name | 12 May | Change | % |
| Dow Jones Industrial Average | 23764.78 | -457.21 | -1.89 |
| S&P 500 | 2870.12 | -60.20 | -2.05 |
| Dow Jones US Chemicals Index | 525.27 | −9.81 | -1.83 |
| S&P 500 Chemicals Industry Index | 531.83 | −8.99 | -1.66 |
In Europe, chemical stocks tended to be bearish despite gains for many listed producers.
Additional reporting by Tom Brown, George Martin, Ignacio Sotolongo and Tarun Raizada.
Visit the ICIS coronavirus topic page for analysis of the impact on chemical markets and links to latest news.
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