Chemicals: Weekly + Polyethylene, Acetic, Lithium, Nitrogen

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Chemicals: Weekly + Polyethylene, Acetic, Lithium, Nitrogen

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Chemicals

Weekly + Polyethylene, Acetic, Lithium,

Nitrogen

Industry Overview

US polyethylene (PE) markets continue to soften 22 June 2026

Depending on grade, CMA is reporting spot PE prices down 8-12cpp over the course of Equity

June, with the largest drop in linear low density. This puts spot markets anywhere from 16 United States

to 25cpp below the peak prices realized mid-April. Export prices are down even more (see Chemicals

12 June Chemicals report), though the spread is closing as domestic markets catch up to Matthew DeYoe, CFA

international benchmarks. While the industry has surprised us in the past, we believe the Research Analyst

likelihood of keeping contract prices flat in June are falling quickly. Should the market BofAS+1 646 855 5746

transact flat, we would expect some form of discounting to be present. According to matthew.deyoe@bofa.com

CMA, “at the local level, the North American PE spot market continues to see abundant Hakim Sanfo

Research Analyst

supply, hesitant demand, and prices trending lower for yet another week as suppliers BofAS

conceded a new wave of discounts to boost demand”. The industry’s hope of stabilization +1 646 743 1557 hakim.sanfo@bofa.com

would come from a global price increase due to a shortage of crude given inventory

depletions. That said, it is likely too late to change the fate of June. As for the

ramifications here, economies are supplementing 4-10% (depending on the source) of Acronyms:

global crude demand through inventory, and with ~40% of global ethylene coming from

naphtha, the loss of feedstock would be manageable. The bigger issue would be impact to ACC: American Chemistry Council

the cost curve. CFR: Cost and Freight