HOUSTON (ICIS)--US-listed chemical stocks fell moderately on Tuesday with the general stock market after President Donald Trump threatened more tariffs against China.
On Monday, Trump asked the US Trade Representative to find $200bn worth of Chinese imports on which the US could impose 10% tariffs.
Trump said he was responding to China's proposal to impose tariffs on $50bn worth of US imports. The Chinese proposal was in retaliation against a US proposal to impose tariffs on $50bn worth of goods.
Both proposals target several petrochemicals.
In the US, the Dow Jones Industrial Average fell by 1.15%. The S&P 500 fell by 0.40%.
While the two indices were down moderately, neither have broken the highs reached at the end of January, illustrating the pressure that the trade dispute has imposed on the market.
Nonetheless, market participants and even some chemical executives have had a muted response to the proposed tariffs.
They say the tariffs will alter trade flows, but they will not alter overall demand for petrochemicals. The US and China exports will remain the same. They will just send shipments to different countries.
Trade groups in the US have been much more alarmed. The American Chemistry Council (ACC) has said that the US industry has been thrown on to the front lines of a trade war with China.
In the stock markets, the biggest winner was US-based fertilizer producer CF Industries, which rose by 3.07%. The biggest loser was chlor-alkali and epoxy-resin producer Olin, which fell by 4.26%.
The table below lists the performance of the US listed chemical stocks followed by ICIS.
|$ Change||% Change|
|CF Industries Holdings Inc||45.95||1.37||3.07|
|Platform Specialty Products Corp||11.91||0.34||2.94|
|Petroleo Brasileiro SA Petrobras ADR||9.53||0.26||2.8|
|DCP Midstream LP||39.37||1||2.61|
|Ultrapar Participacoes SA ADR||12.73||0.23||1.84|
|Alerian MLP ETF||10.33||0.14||1.37|
|Calumet Specialty Products Partners LP||8.15||0.1||1.24|
|The Mosaic Co||29.25||0.27||0.93|
|Occidental Petroleum Corp||83.79||0.46||0.55|
|Venator Materials PLC||17.77||0.08||0.45|
|W R Grace & Co||73.51||0.31||0.42|
|Ecopetrol SA ADR||20.55||0.07||0.34|
|Ashland Global Holdings Inc||78.35||0.12||0.15|
|Valero Energy Corp||116.69||0.15||0.13|
|A. Schulman Inc||44.4||0||0|
|PQ Group Holdings Inc||17.65||-0.01||-0.06|
|PBF Energy Inc Class A||47.34||-0.07||-0.15|
|Exxon Mobil Corp||80.67||-0.16||-0.19|
|Westlake Chemical Partners LP||24.7||-0.05||-0.2|
|Marathon Petroleum Corp||74.49||-0.3||-0.4|
|Westlake Chemical Corp||109.53||-0.47||-0.43|
|LyondellBasell Industries NV||114.71||-0.61||-0.53|
|Sociedad Quimica Y Minera De Chile SA ADR||49.57||-0.38||-0.76|
|Braskem SA ADR repr Class A||26.48||-0.21||-0.79|
|Enterprise Products Partners LP||28.02||-0.25||-0.89|
|Eastman Chemical Co||107.83||-1.09||-1|
|RPM International Inc||50.69||-0.51||-1|
|PPG Industries Inc||103.94||-1.07||-1.01|
|Kronos Worldwide Inc||24.5||-0.28||-1.13|
|The Chemours Co||48.65||-0.81||-1.64|
|Axalta Coating Systems Ltd||30.48||-0.52||-1.68|
|H.B. Fuller Co||53.12||-0.97||-1.79|