US chem shares rise amid market rally

Author: Al Greenwood

2020/06/16

HOUSTON (ICIS)--Most US-listed shares of chemical companies rose on Tuesday amid a general rally in the stock market.

The table below shows the US shares followed by ICIS.

$ Current
Price
$ Change % Change
AdvanSix 13.00 0.28 2.20
Axalta Coating Systems 22.65 -0.18 -0.77
Braskem 9.69 0.09 0.94
Celanese 89.42 0.43 0.48
Dow 42.12 0.14 0.33
DuPont 52.98 0.99 1.90
Eastman 71.29 1.69 2.43
HB Fuller 41.99 1.46 3.60
Huntsman 19.11 0.52 2.80
Ingevity 54.60 2.69 5.18
Kraton 17.18 0.82 5.01
Kronos Worldwide 10.40 0.23 2.26
LyondellBasell 68.92 1.64 2.44
Methanex 21.80 1.41 6.92
NewMarket 406.03 5.72 1.43
Olin 13.14 0.22 1.66
PolyOne 26.09 0.06 0.21
PPG 104.29 1.09 1.06
RPM International 76.23 1.53 2.05
Sherwin-Williams 575.62 5.61 0.98
Stepan 95.96 -0.12 -0.12
Chemours 16.35 0.98 6.38
Trinseo 22.50 -0.04 -0.18
Tronox 7.77 0.34 4.51
Univar 17.83 -0.32 -1.74
Venator Materials 2.22 0.04 1.83
Westlake Chemical 55.01 0.69 1.27

The table below shows the major indices followed by ICIS.

Dow Jones Industrial Average 26,289.98 526.82 2.04
S&P 500 3,124.74 58.15 1.90
Dow Jones US Chemicals Index 595.13 12.51 2.15
S&P 500 Chemicals Industry Index 597.08 11.85 2.02

Stock markets rose after the US reported that May retail sales rose by 17.7% over April. Year on year, May retail sales in the US were down by 6.1%.

Earlier in the day, there were reports of a possible infrastructure stimulus plan that was being considered by the federal government.

Oil prices also rose, as shown in the following table.

16-Jun 15-Jun %
Brent 40.96 39.72 3.12%
WTI 38.38 37.12 3.39%

The International Energy Agency (IEA) said that the collapse in oil demand in the first half of 2020 has proven less severe than expected, with the market expected to return to growth next year.

In the US, formulator PolyOne said it expects a 20% year-on-year decline in second-quarter sales as the coronavirus pandemic slashed demand for its products.

Much of the decline could be attributed to the automobile market.

US-based Axalta Coating Systems’ net sales for April and May fell 48% year on year. By month, May sales rose 15% from April, and the company expects June sales to rise over May.

Axalta makes automobile paints and coatings.

Additional reporting by Tom Brown, Stefan Baumgarten

Click here to view the ICIS Coronavirus, oil price crash - impact on chemicals topic page.

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