Europe top stories – weekly summary

14 January 2013 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 11 January 2013.

Europe PE, PP buyers face pressure of hikes in cautious market
Polyethylene (PE) and polypropylene (PP) buyers in Europe are faced with higher prices in January, and while many expect some increases to be implemented, most see little justification for hikes and intend to settle late this month where possible, several said on Friday.

Some relief for Europe naphtha oversupply but outlook uncertain
While outbound naphtha arbitrages are currently open, relieving some of the oversupply that has been building in Europe for weeks, this could be short-lived, market participants said this week.

Petkim to push ahead with 50% expansion of PTA capacity
Turkish petrochemical producer Petkim is going ahead with a project to increase its purified terephthalic acid (PTA) capacity by 50%, the company said on Wednesday.

Europe benzene spot market softens in January
The European benzene spot market has softened in January, with demand so far failing to ignite after the Christmas holiday period, sources said on Tuesday.

BASF’s Pronova takeover threatened by shareholder opposition
BASF’s planned takeover of Norway-based pharmaceutical company Pronova BioPharma may face opposition from shareholders who maintain the price offered for the business is too low, an investor said on Monday.

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By: Staff Reporter
+44 20 8652 3214

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