""The die is being cast for the rest of the year for what's going to happen in the markets. It's like the unwind we saw on supply chains during COVID.""
""You could be in the 250- to 275-day [range]. This is not going to be an instantaneous rewind.""
""We're seeing the force majeure of plants in Asia, but we're not yet seeing the shortages at Home Depot. But there is that potential. Chemicals go into everything.""
The Iran war has led to significant petrochemical price spikes and shortages, impacting inflation across construction materials, consumer goods, and various industries. Approximately 20% of global petrochemical capacity is hindered due to the closure of the Strait of Hormuz. The CEO of Dow Chemical indicated that the market effects will persist through the year, similar to supply chain disruptions seen during COVID. The reliance on different feedstocks in the West and Asia exacerbates the situation, with many Asian plants declaring force majeure due to naphtha shortages.
Read at Fortune
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