Europe top stories - weekly summary

Europe PP producers seek more hikes in May on tight demand
Polypropylene (PP) buyers in Europe will face more price increases in May as producers formulate plans after the May propylene contract was settled up by €20/tonne, sources said.

Europe PE buyers react angrily to hikes on stable ethylene
European polyethylene (PE) buyers have reacted angrily to higher price targets from producers in May, as the first ethylene contract for that month settled at a rollover from April.

Interview: Borouge upbeat on long term prospects of polyolefins
The market outlook for polyolefins is very positive in the long term, but there could be some ups and downs in the short term, said the CEO for the marketing arm of Borouge, the joint venture between Abu Dhabi National Oil Co and Borealis.

UK reopens airspace as jet fuel prices continue to fall
The UK has reopened its airspace, signalling that concerns were easing regarding volcanic ash clouds from Iceland. The air crisis lowered jet fuel prices, which sank rapidly as diminished use led to excess supply.

SABIC’s first-quarter net profit swings to $1.45bn
SABIC swung to a net profit of Saudi riyal (SR) 5.43bn ($1.45bn) for the first quarter ended 31 March, compared with a net loss of SR975m for the same quarter in 2009, the petrochemical giant said.