RBC Capital Markets sees dour Q3 for chemical commodity companies
** RBC Capital Market's earnings expectations for commodity chemical companies in second half of 2024 have come down further due to ongoing Europe weakness and unplanned outages through Q3
** While businesses and consumer demand could improve on interest rate cuts, benefits not likely to occur until mid-2025 - Brokerage
** Say China announcing largest stimulus package since COVID has been main driver for higher commodity chemical sentiment, but benefits yet to be seen
** RBC analysts most positive on Chemours CC.N, but with titanium dioxide weakness ongoing, delayed HFO rollout has negatively impacted Thermal & Specialized Solutions segment; cuts PT to $28 from $35
** Cuts PT to $110 from $112 on LyondellBasell LYB.N; expects Q3 impacted by weak refining, Hurricane Beryl and lower oxyfuels pricing
** Cuts PT to $107 from $100 on Eastman Chemicals EMN.N, says "had already built in general end-market weakness and now properly account for Kingsport and productivity benefits"
Reporting by Seher Dareen in Bengaluru
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