Recently, the US epidemic is still raging, and the chemical industry is also deeply affected.
It was stated on July 23 that Dow Chemical would lay off 6% of its employees and withdraw from uncompetitive assets in response to the continuing impact of public health incidents.
On July 24, a BASF spokesperson also confirmed that BASF has announced that its 160,000-ton/year toluene diisocyanate (TDI) plant in Geismar, Louisiana has encountered force majeure.
In fact, not only these two giants are affected by the epidemic, but also the future performance expectations of other European and American chemical companies are not optimistic.
According to Ansense Houston, Alembic Global Advisors stock analyst Hassan Ahmed also lowered the earnings forecasts of some chemical companies in 2020 and 2021 due to the decline in profit margins, prices and industrial activities. .
Ahmed said that due to lower-than-expected industrial production, Ailanbeike Global Consulting has lowered its earnings per share forecasts for Air Liquide, Air Products and Linde.
As the profit margin of diphenylmethane diisocyanate was lower than expected, Ailanbeike Global Consulting Company lowered Huntsman's 2020 earnings forecast, and also lowered the Brazilian company Braskem (Braskem) and the Dow Chemical Company. Hollyand Basel’s earnings expectations.
Due to methanol prices, Methanex has lowered its earnings forecast. Tronox's earnings forecast was lowered because of the drop in zircon prices, while Celanese's earnings forecast was lowered because of lower auto production and lower acetyl profit margins.
The price of caustic soda was lower than expected. As a result, Ilanbic Global Consulting Company lowered the earnings forecasts of Olin and Westlake Chemical Company in 2021; the performance of Brazilian currency Real was lower than expected, and Ilanbic Global Consulting Company raised the forecast Blasco's earnings forecast for 2021.
