Commodity AI firm ChAI has begun a project with BASF-YPC to forecast olefin prices including Ethylene, Propylene and Butadiene. BASF-YPC Company Limited is a large-scale petrochemical 50:50 joint venture between the world's two largest chemical companies BASF and Sinopec. ChAI provides BASF-YPC with Olefin price forecasts to support the company’s market intelligence and enhance its feedstock cost management.
ChAI is a data-driven market insights tool for companies exposed to commodity prices. ChAI uses proprietary AI technology to provide forecasts that update daily to enable companies to understand raw material price changes in their cost base fully. This information can help companies to enhance their hedging strategies, enable more accurate budgeting and justify purchasing decisions.
ChAI is democratizing the tools, techniques and data that have long given speculators a competitive edge: combining state-of-the-art AI techniques with exciting new alternative data sources to reduce the risk in physical supply chains. Their innovation helps better mitigate shocks to company cash flows and P&Ls – enabling businesses to plan better for the future and be more resilient.
Tristan Fletcher, CEO at ChAI, said: “It is a real honour to be able to serve two of the world’s largest and most prestigious chemicals companies, forecasting the raw materials in their cost base.”
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