Europe top stories - weekly summary

LONDON (ICIS)--Here are some of the top stories from ICIS for the week ended 23 January 2011.

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Europe February ethylene, propylene prices to rise further
February contract prices in Europe for ethylene (C2) and propylene (C3) are expected to increase from this month's prices because of a bullish outlook on feedstocks and robust demand, market sources said on Friday.

Fitch gives EMEA chemicals sector a stable outlook for 2011
Fitch Ratings has given chemical companies in the Europe, Middle East and Africa (EMEA) region a stable outlook for 2011 as the industry witnesses improving market conditions, it said on Friday.

Europe PX spot prices move close to pre-crisis 2008 levels
European paraxylene (PX) spot prices are moving close to the pre-crisis levels of July 2008, largely driven by sharp increases in Asia, industry sources said on Thursday.

Europe benzene values gain on global strength, availability issues
Availability issues and firming global prices have helped push European benzene values up by $50/tonne (€37.50/tonne) so far this week, and the market is expected to strengthen further, players said on Wednesday.

Stretch of Rhine may stay shut for three weeks after ship capsize
A 70km stretch of the river Rhine in Germany could be closed for more than three weeks until work is completed to salvage a sunken ship, an official said on Tuesday.

Europe PP hits new record high, producers predict more hikes
Polypropylene (PP) prices in Europe have reached a new record high as producers push levels up following a hefty increase in propylene prices in a market free from the competition of imports, market sources said on Monday.