KeyBanc sees prices rising in certain markets after Olin declares force majeure

Huntsman

18/07/2024 19:52

** Brokerage KeyBanc Capital Markets sees chemicals maker
Olin Corp's  OLN.N  system-wide force majeure for some product
and aromatic shipments due to Hurricane Beryl being a positive
for certain markets 
    ** Brokerage sees a short-term positive for the U.S. caustic
soda, polyvinyl chloride (PVC) and U.S./European
methylenediphenyl diisocyanate (MDI) prices
    ** The effect of outages at OLN will be temporary and prices
will likely fluctuate in a fairly moderate range in the coming
months - KeyBanc
    ** "OLN's downtime is potentially of a more significant
magnitude ... it is not customary for OLN to declare force
majeure, which indicates the length of the outage may be longer
in nature" - brokerage 
    ** Brokerage says domestic caustic soda market could tighten
if OLN's force majeure lasts longer than two to three weeks
    ** Customers that can potentially be affected by OLN's
outage are Dow  DOW.N , Huntsman  HUN.N , and Corteva  CTVA.N  -
KeyBanc

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))