Europe top stories - weekly summary

12 September 2011 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 11 September 2011.

Europe spot acetone drifts lower on supply/demand balance
European acetone spot prices drifted lower this week with many market participants on Friday blaming a tip in the supply/demand balance as well as concerns over an economic slowdown.

Standard & Poor's raises ratings of Germany's K+S to BBB+
Standard & Poor’s (S&P) has raised its long-term corporate credit rating and senior unsecured debt rating for Germany-based potash and salt producer Kali and Salz (K+S) to BBB+ from BBB, the US ratings agency said on Thursday.

Europe PP buyers grab lower prices in September
Polypropylene (PP) buyers in Europe are pushing producers hard to get a share of the €37/tonne ($51/tonne) drop in the September propylene contract price, and several say they have achieved lower prices, sources said on Wednesday.

UBS upgrades Germany’s LANXESS to ‘neutral’ from ‘sell’
UBS has upgraded its share rating for Germany-based chemicals group LANXESS to “neutral” from “sell”, based on expectations that demand for high-performance tyres will grow, the investment bank said on Tuesday.

Europe polyolefins players struggle over Sept pricing
Polyethylene (PE) and polypropylene (PP) buyers in Europe have been faced with announcements of rollovers or price increases for September, following decreases in both the ethylene and propylene monthly monomer contracts, market sources said on Monday.

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By: Staff Reporter
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