Higher Urea, PE Prices Likely to Lift Petronas Chemicals Outlook -- Market Talk

Dow Jones03-24

0430 GMT - Petronas Chemicals could benefit from higher urea and polyethylene prices amid supply disruptions linked to the Strait of Hormuz closure, CGS International analyst Raymond Yap says in a note. Urea prices have surged 47% since the Iran conflict. Even if the Strait of Hormuz reopens, urea prices may stay elevated as damaged facilities take time to repair, he reckons. He expects Petronas Chemicals' fertilizers and methanol selling prices to rise 40% on year in 2026, up from 25% expected previously. Polyethylene prices could rise further amid lower plant operating rates and constrained feedstock supply, with additional upside if the Strait of Hormuz remains closed for longer, he adds. CGS raises Petronas Chemicals' target price to 6.58 ringgit from 5.54 ringgit, while maintaining an add rating on the stock. Shares are 3.6% higher at 5.68 ringgit. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

March 24, 2026 00:30 ET (04:30 GMT)

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He expects Petronas Chemicals' fertilizers and methanol selling prices to rise 40% on year in 2026, up from 25% expected previously. Polyethylene prices could rise further amid lower plant operating rates and constrained feedstock supply, with additional upside if the Strait of Hormuz remains closed for longer, he adds. CGS raises Petronas Chemicals' target price to 6.58 ringgit from 5.54 ringgit, while maintaining an add rating on the stock. Shares are 3.6% higher at 5.68 ringgit. 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Urea prices have surged 47% since the Iran conflict. Even if the Strait of Hormuz reopens, urea prices may stay elevated as damaged facilities take time to repair, he reckons. He expects Petronas Chemicals' fertilizers and methanol selling prices to rise 40% on year in 2026, up from 25% expected previously. Polyethylene prices could rise further amid lower plant operating rates and constrained feedstock supply, with additional upside if the Strait of Hormuz remains closed for longer, he adds. CGS raises Petronas Chemicals' target price to 6.58 ringgit from 5.54 ringgit, while maintaining an add rating on the stock. Shares are 3.6% higher at 5.68 ringgit. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"尿素和PE价格上涨可能会提振马来西亚国家石油公司化学品前景——市场讨论","themeId":"8603dabb40994e59ac78c04c930c0d49","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"0430 GMT - Petronas Chemicals could benefit from higher urea and polyethylene prices amid supply disruptions linked to the Strait of Hormuz closure, CGS International analyst Raymond Yap says in a note. Urea prices have surged 47% since the Iran conflict. Even if the Strait of Hormuz reopens, urea prices may stay elevated as damaged facilities take time to repair, he reckons. He expects Petronas Chemicals' fertilizers and methanol selling prices to rise 40% on year in 2026, up from 25% expected previously. Polyethylene prices could rise further amid lower plant operating rates and constrained feedstock supply, with additional upside if the Strait of Hormuz remains closed for longer, he adds. 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