Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 12 January.

Stronger Asian market pushes Europe styrene spot values up
Higher pricing in the Asian styrene spot market has also pushed European values up, although it is not clear if this is the only reason for the latest surge in domestic market pricing, players said.

Germany’s Chancellor Merkel advances on forming new government
German Chancellor Angela Merkel’s Christian Democrats (CDU/CSU) and the Social Democrats (SPD) have agreed a “compromise paper”, paving the way to begin official negotiations to renew their “grand coalition” government, they said.

Europe toluene market remains firm amid crude oil ongoing strength
Energy continues to be the driver of European toluene spot prices as Brent crude oil values surpassed $70/bbl this week, although overall fundamentals remain slow after the holiday season, players said.

Swiss exchange launches Clariant investigation over Huntsman disclosures
Switzerland’s key stock exchange has opened an investigation into a potential breach of disclosure requirements by chemical producer Clariant in relation to its failed merger with US-based Huntsman, the bourse said.

OUTLOOK ’18: European players eye impact of global shifts on phenol and acetone conditions
European phenol and acetone market players continue to cite differing expectations for the year ahead, on the back of global shifts in the production landscape and anticipated trade flows.

Europe methanol futures contract ‘to launch in March’
A futures contract for the European methanol market could launch as early as March, a Russian methanol trader who is involved in the process said.

INSIGHT INTERACTIVE: IPEX data show producers ending 2017 on a high note
Petrochemical and polymer players saw a strong end to 2017 with key commodity prices up month to month and year to year, ICIS data shows.

OUTLOOK ’18: Africa polymers players optimistic for healthy demand in 2018
Africa polymers players are optimistic for 2018 following a poor year for demand across the continent, although positive expectations are on the perception that the bottom has been reached rather than any real signs of improvement.

OUTLOOK ’18: European PVC demand to rise, feedstocks to tighten
The European polyvinyl chloride (PVC) market is likely to see solid demand growth in 2018 although supply may be affected because of possible higher chlorine run rates, with feedstocks expected to structurally tighten due to the closure of some chlorine capacity.

OUTLOOK ’18 – Europe plasticizers positive for 2018, market awaits new DOTP capacity
European plasticizer markets are largely expected to have a positive 2018, buyers and sellers agree.

OUTLOOK ’18: A significant restart to play on Europe PET conditions
The restart of India-based polyethylene terephthalate (PET) producer JBF Industries’ Belgian plant poses as the greatest factor for European market participants to consider in 2018.

Rhine waterways closed to shipping as water levels surge
Sections of the River Rhine are currently closed to shipping transportation as a result of surging water levels in Germany over the weekend, a representative of the country’s waterway and shipping administration said.