Monthly Petrochemical Monitor: Going back to pre-war levels?

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Monthly Petrochemical Monitor: Going back to pre-war levels?

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LatAm Petrochemicals

Monthly Petrochemical Monitor: Going

back to pre-war levels?

Industry Overview

Monthly Petrochemical Monitor 09 July 2026

In our BofA Monthly Petrochemical Monitor, we track the performance of the most Equity

important petrochemical spreads for the companies within our LatAm coverage. Latin America

Oil & Gas

A mixed performance for spreads in June

The petrochemical market had a weak performance in June with most of the tracked Table of Contents

spreads tightening over the month, being partially offset by lower naphtha costs in

Monthly Petrochemical Monitor 2

certain cases. Monthly highlights included: US EPS-Styrene (+25% MoM), PP-Naphtha

(+18% MoM) and Braskem’s main chemicals (+16% MoM). On the negative side: EUR PE: Tighter spreads on weak demand and higher 3

PP-Propylene reached close to zero, PE spreads decreased by 7-19% MoM, PVC spreads supply

tightened by around 20% and Chinese PET margin dropped by 15%. Within our coverage PP: Mixed performance across the regions 4

universe, the overall performance was negative for all the companies. Overall, PVC: Spreads tightening amid sluggish demand 6

expectations for July’s performance remains broadly bearish across all major resin PET: Integrated margins down 15% MoM 7

chains, with prices expected to move lower for PE, PP, PVC and PET – at the same time, EPS: Spread improves 25% MoM, hit highest 8

we expect volatility amid the back-and-forth news flow over the Middle East conflict. level since 23

Braskem’s main chemicals: up on lower naphtha

PE: Tighter spreads on weak demand and higher supply costs 8

Domestic and export spot prices continued to decline in June amid lower crude oil prices, Acronyms 11