Coronavirus, oil price crash - impact on chemicals

US-listed shares of chemical companies rose sharply on Monday, breaking from the drop in oil prices.
The European Petrochemical Association (EPCA) 54th annual meeting in October has been cancelled to avoid “undue risk” of coronavirus spread, but the trade group is mulling a virtual format. There has been a pull on purified terephthalic acid (PTA) from downstream polyethylene terephthalate (PET) applications that are considered essential amid the pandemic, but the tide may be turning despite imminent peak season. The US chemical industry could lose against a stronger Chinese sector in the aftermath of the coronavirus pandemic.