Chem stocks drop as Dow falls more than 6% during the day
Al Greenwood
05-Feb-2018
HOUSTON (ICIS)–Chemical stocks fell as the Dow Jones Industrial Average dropped by more than 6% on Monday, before the index recovered to close at a decline of 4.60%.
The average closed
at 24,345.75, down 1,175.21 points.
During the day, the average fell to as low
as 23,923.88, down nearly 1,600 points.
Almost every US-traded stocks followed by ICIS fell, with several falling by more than 4%. The biggest loser was titanium dioxide (TiO2) producer Kronos Worldwide, which declined by nearly 7%.
Other companies that fell sharply include Colombian energy producer Ecopetrol and US energy producer ExxonMobil.
The Dow Jones US Chemicals Index fell by 3.43% to close at 645.80. During the day, it reached 643.65.
The table below shows the performance among the major chemical companies followed by ICIS as of 15:18 Houston time (21:18 GMT).
| Name | Price | $ Change | % Change |
| Celanese Corp | 100.67 | -4.42 | -4.21 |
| DowDuPont Inc | 67.8 | -3.09 | -4.36 |
| Eastman Chemical Co | 97.11 | -2.16 | -2.18 |
| Enterprise Products Partners LP | 26.25 | -0.84 | -3.1 |
| Exxon Mobil Corp | 79.22 | -5.07 | -6.01 |
| LyondellBasell Industries NV | 108.77 | -3.4 | -3.03 |
| Nutrien Ltd | 48.29 | -1.69 | -3.38 |
| Phillips 66 | 95.21 | -1.8 | -1.86 |
| PPG Industries Inc | 111.98 | -3.63 | -3.14 |
| Praxair Inc | 150.32 | -4.73 | -3.05 |
| Trinseo SA | 77 | -3.5 | -4.35 |
| Valero Energy Corp | 89.77 | -3.42 | -3.67 |
Source: Morningstar
Oilseed processor Bunge was the only company to close higher, rising by 2.91%. The company’s stock rose following reports that it was an acquisition target.
Monday’s decline followed the second day of volatility. On Friday, the Dow Jones Industrial Average closed at a drop of 666 points.
The declines were so sharp during the past two business days, it put the index already near a correction, defined as a drop of at least 10%.
Such large swings in the stock market can affect the sentiment, and that can affect buying decisions among buyers in several different markets, said James Ray, ICIS senior consultant.
“If people feel uncertainty, they tend not to make big purchases,” he said. “While one day doesn’t make a trend, big drops can dampen the economy, at least in the short term.”
Still, it is important to mark the difference between sentiment and market fundamentals, he said.
The table below shows the performance of the US-listed companies followed by ICIS.
| Name | Price | $ Change | % Change |
| A Schulman Inc | 35.95 | -2.05 | -5.39 |
| AdvanSix Inc | 37.03 | -1.27 | -3.32 |
| Albemarle Corp | 105.15 | -0.36 | -0.34 |
| Alerian MLP ETF | 11.01 | -0.17 | -1.48 |
| Andeavor | 99.25 | -4.28 | -4.13 |
| Ashland Global Holdings Inc | 72.74 | -1.13 | -1.53 |
| Axalta Coating Systems Ltd | 29.81 | -1.03 | -3.34 |
| Braskem SA ADR repr Class A | 29.38 | -0.99 | -3.26 |
| Bunge Ltd | 80.89 | 2.29 | 2.91 |
| Cabot Corp | 62.72 | -2.78 | -4.24 |
| Calgon Carbon Corp | 21.3 | 0 | 0 |
| Calumet Specialty Products Partners LP | 7.3 | -0.05 | -0.68 |
| Celanese Corp | 100.67 | -4.42 | -4.21 |
| CF Industries Holdings Inc | 38.2 | -1.71 | -4.28 |
| Cosan Ltd | 11.05 | -0.14 | -1.25 |
| DCP Midstream LP | 39.47 | -1.06 | -2.62 |
| DowDuPont Inc | 67.8 | -3.09 | -4.36 |
| Eastman Chemical Co | 97.11 | -2.16 | -2.18 |
| Ecolab Inc | 132.05 | -5.01 | -3.66 |
| Ecopetrol SA ADR | 17.37 | -1.24 | -6.66 |
| Enterprise Products Partners LP | 26.25 | -0.84 | -3.1 |
| Exxon Mobil Corp | 79.22 | -5.07 | -6.01 |
| HB Fuller Co | 47.82 | -1.91 | -3.84 |
| Huntsman Corp | 31.48 | -0.98 | -3.02 |
| Ingevity Corp | 70.42 | -2.53 | -3.47 |
| Kraton Corp | 45.5 | -2.56 | -5.33 |
| Kronos Worldwide Inc | 23.52 | -1.75 | -6.93 |
| LyondellBasell Industries NV | 108.77 | -3.4 | -3.03 |
| Marathon Petroleum Corp | 64.58 | -2.83 | -4.2 |
| Methanex Corp | 58.1 | -1.75 | -2.92 |
| NewMarket Corp | 385.45 | -7.08 | -1.8 |
| Nutrien Ltd | 48.29 | -1.69 | -3.38 |
| Occidental Petroleum Corp | 70.91 | -2.67 | -3.63 |
| Olin Corp | 35.4 | -0.66 | -1.83 |
| PBF Energy Inc Class A | 30.07 | -0.83 | -2.69 |
| Petroleo Brasileiro SA Petrobras ADR | 12.7 | -0.63 | -4.69 |
| Phillips 66 | 95.21 | -1.8 | -1.86 |
| Platform Specialty Products Corp | 10.15 | -0.6 | -5.58 |
| PolyOne Corp | 41.05 | -1.83 | -4.27 |
| PPG Industries Inc | 111.98 | -3.63 | -3.14 |
| PQ Group Holdings Inc | 14.81 | -0.61 | -3.96 |
| Praxair Inc | 150.32 | -4.73 | -3.05 |
| RPM International Inc | 48.94 | -2.05 | -4.02 |
| Sherwin-Williams Co | 393.23 | -9.9 | -2.46 |
| Sociedad Quimica Y Minera De Chile SA ADR | 51.15 | -1.91 | -3.6 |
| Stepan Co | 71.47 | -3.58 | -4.77 |
| The Chemours Co | 46.88 | -2.34 | -4.75 |
| The Mosaic Co | 24.78 | -1.26 | -4.84 |
| Trinseo SA | 77 | -3.5 | -4.35 |
| Tronox Ltd | 17.89 | -0.16 | -0.89 |
| Ultrapar Participacoes SA ADR | 24.2 | -0.74 | -2.97 |
| Valero Energy Corp | 89.77 | -3.42 | -3.67 |
| Valvoline Inc | 23.72 | -0.43 | -1.78 |
| Venator Materials PLC | 20.12 | -0.9 | -4.28 |
| W R Grace & Co | 69.96 | -2.07 | -2.87 |
| Westlake Chemical Corp | 103 | -3.41 | -3.2 |
| Westlake Chemical Partners LP | 23.4 | -0.65 | -2.7 |
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