U.S. Markets closed
  • S&P 500

    4,432.99
    -40.76 (-0.91%)
     
  • Dow 30

    34,584.88
    -166.42 (-0.48%)
     
  • Nasdaq

    15,043.97
    -137.93 (-0.91%)
     
  • Russell 2000

    2,236.87
    +3.96 (+0.18%)
     
  • Crude Oil

    71.96
    -0.65 (-0.90%)
     
  • Gold

    1,753.90
    -2.80 (-0.16%)
     
  • Silver

    22.42
    -0.33 (-1.44%)
     
  • EUR/USD

    1.1732
    -0.0040 (-0.3402%)
     
  • 10-Yr Bond

    1.3700
    +0.0390 (+2.93%)
     
  • Vix

    20.81
    +2.12 (+11.34%)
     
  • GBP/USD

    1.3737
    -0.0059 (-0.4286%)
     
  • USD/JPY

    109.8950
    +0.1770 (+0.1613%)
     
  • BTC-USD

    47,591.78
    -788.41 (-1.63%)
     
  • CMC Crypto 200

    1,193.48
    -32.05 (-2.61%)
     
  • FTSE 100

    6,963.64
    -63.84 (-0.91%)
     
  • Nikkei 225

    30,500.05
    +176.75 (+0.58%)
     

LyondellBasell (LYB) Technology Selected for China's New Site

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

LyondellBasell Industries N.V. LYB recently announced that Jiangsu Fenghai High-tech Materials Co., Ltd. (“Jiangsu Fenghai”) will use its Spheripol and Hostalen Advanced Cascade Process technology for a new site.

The process technology will be utilized for 400 kilotons per annum (KTA) Spheripol and 300 KTA Hostalen ACP plants, to be constructed in Lianyungang, Jiangsu, P.R. China.

Jiangsu Fenghai’s technology selection will facilitate the production of benchmark polypropylene and high-density polyethylene products using LyondellBasell’s Spheripol and Hostalen ACP low pressure processes. These products currently have high demand in China.

Jiangsu Fenghai noted that LyondellBasell’s licensing technology experience along with its in-house operational know-how and deep market insights, gives it the confidence needed to focus on the overall implementation of the project.

Shares of LyondellBasell have surged 53.6% in the past year compared with 42.4% rise of the industry.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

The company, in its last earnings call, noted that it anticipates operating at nearly full capacity globally to meet strong demand. This is expected to persist due to low inventories and maintenance downtime across industry. Strong North American integrated polyethylene margins are expected to continue as U.S. producers are trying to fulfil domestic order backlogs, rebuild inventories and serve export demand.

In the second half of 2021, it is expected that increased mobility will drive higher demand for gasoline and jet fuel. This will likely improve margins in the company’s Refining and Oxyfuels & Related Products businesses. Moderating feedstock costs are also expected to increase second-quarter margins in the Advanced Polymer Solutions segment. The company looks forward to further reduce debt in the near future.

LyondellBasell Industries N.V. Price and Consensus

LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. Price and Consensus

LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote

Zacks Rank & Key Picks

LyondellBasell currently sports a Zacks Rank #1 (Strong Buy).

Some other top-ranked stocks in the basic materials space are Nucor Corporation NUE, Olin Corporation OLN and Cabot Corporation CBT.

Nucor has a projected earnings growth rate of around 386.2% for the current year. The company’s shares have surged 134.4% in a year. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Olin has an expected earnings growth rate of around 506.7% for the current year. The company’s shares have skyrocketed 316.7% in the past year. It currently carries a Zacks Rank #2 (Buy).

Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 55.9% in the past year. It currently flaunts a Zacks Rank #1.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Nucor Corporation (NUE) : Free Stock Analysis Report

Cabot Corporation (CBT) : Free Stock Analysis Report

LyondellBasell Industries N.V. (LYB) : Free Stock Analysis Report

Olin Corporation (OLN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research