US chem shares fall amid rising coronavirus cases

Author: Juhi Varma

2020/06/26

HOUSTON (ICIS)--Most US-listed shares of chemical companies fell steeply on Friday amid rising reports of new coronavirus infections from many states.

The following shows the US-listed shares followed by ICIS.

Name $ Current

Price

$ Change % Change
AdvanSix Inc 11.01 -0.16 -1.43
Axalta Coating Systems Ltd 21.43 -0.29 -1.34
Braskem SA ADR repr Class A 8.35 -0.44 -5.01
Celanese Corp Class A 82.78 -2.32 -2.73
Dow Inc 39.8 -0.18 -0.45
DuPont de Nemours Inc 51.62 -1.48 -2.79
Eastman Chemical Co 67.28 -0.44 -0.65
H.B. Fuller Co 42.5 -0.35 -0.82
Huntsman Corp 17.65 -0.18 -1.01
Ingevity Corp 47.31 -2.5 -5.02
Kraton Corp 16.11 -0.64 -3.82
Kronos Worldwide Inc 9.6 0.02 0.21
LyondellBasell Industries NV 63.37 -0.63 -0.98
Methanex Corp 18.05 -0.69 -3.68
NewMarket Corp 386.64 -2.82 -0.72
Olin Corp 10.84 -0.6 -5.24
PolyOne Corp 25.19 0.28 1.12
PPG Industries Inc 102.14 -0.63 -0.61
RPM International Inc 71.5 -2.55 -3.44
Sherwin-Williams Co 557.53 -15.68 -2.74
Stepan Co 87.96 -3.29 -3.61
The Chemours Co 14.83 -0.91 -5.78
Trinseo SA 21.39 -0.35 -1.61
Tronox Holdings PLC 6.56 -0.52 -7.34
Univar Solutions Inc 16 -0.85 -5.04
Venator Materials PLC 1.6 -0.16 -9.09
Westlake Chemical Corp 52.68 -1.2 -2.23

The general stock market also fell, as shown by the closing figures in the table below.

Name 26 June Change %
Dow Jones Industrial Average  25,015.55 −730.05 -2.84
S&P 500 3,009.05 −74.71 -2.42
Dow Jones US Chemicals Index 570.43 −8.56 -1.48
S&P 500 Chemicals Industry Index 574.24 −8.77 -1.50

The number of cases in the US rose by 37,667 on Friday from Thursday, totalling nearly 2.4m, according to the Centers for Disease Control and Prevention (CDC).

Reuters reported that the US government will ship coronavirus treatment remdesivir to states experiencing an increase in cases, these include California, Texas, Florida and Arizona.

Texas and Florida shut down bars again on Friday as the number of confirmed cases swelled to an all-time high.

The concern is that a reinstatement of lockdown measures would slow the economy again, negatively impacting demand for petrochemicals and other commodities.

Oil prices also fell on Friday following a volatile week of ups and downs. The table below shows oil prices in $/bbl.

Product 26 June 25 June Change
Brent August 41.02 41.05 -0.03
WTI August 38.49 38.72 -0.23

More US shale oil and gas companies are facing bankruptcies.

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

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