Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 9 March.

Plastics recycling a chance for chems, Europe could be birthplace for new opportunities – Cefic DG
Higher plastics recycling targets do not necessarily have to be detrimental to EU polymers producers, who will find new business opportunities in the recycling industry, according to the director general (DG) of EU trade group Cefic.

Evonik’s methacrylates disposal worth €1.8bn, positive long-term move – analyst
Evonik’s board is exploring the possibility of divesting its methacrylates businesses, in a deal potentially worth €1.8bn, as it looks to sharpen the focus on specialty chemicals in order to implement its strategy, the German specialty chemicals company said.

Mechanical completion for SIBUR Tobolsk megaproject in Q2 2019
SIBUR’s flagship ZapSibNeftekhim petrochemicals complex is expected to reach mechanical completion in the second quarter of 2019, the chairman of the management board of the Russia-headquartered petrochemicals producer said.

CF Fertilisers announces £40m facelift for Billingham AN plant
CF Fertilisers is planning a two-year, £40m ($56m) facelift for its Billingham, UK, ammonium nitrate (AN) plant, the UK subsidiary of CF Industries announced. The investment is an answer to increased domestic demand, according to CF Billingham site manager Keith Brudenell.

No clear trends behind 2.3% rise in ICIS global price index for February
There was no clear direction for petrochemical prices last month as the global ICIS Petrochemical Index (IPEX) climbed 2.3%. That rise was based on a regional increase of 4.1% in northwest Europe, a 2.3% increase in the index value for northeast Asia and a 0.6% increase in the US.

European recovery underpins new petchems capacities, but challenges remain
The European chemical industry continues facing structural challenges but it is benefitting from an improved business climate that is underpinning plans for new olefins capacities in the region, an industry executive said.

Kazan Soda Elektrik full capacity delayed to May, soda ash being exported – company official
The activation of the fifth line at Europe’s new soda ash plant, Kazan Soda Elektrik, has been delayed again by one month, a source from the company told ICIS. “Four lines are working now. We’re ramping up and the fifth line will be active next month,” the source said. “We will reach full capacity by May.”

African LDPE, LLDPE price increases may falter on European, Chinese lower values
African low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) prices have mostly increased this week but the hikes may be short lived on the back of decreasing values in Europe and China, sources said.

Raw materials costs rise €300m for AkzoNobel paints, coatings in 2017
AkzoNobel absorbed an additional €300m in raw materials costs for its paints and coatings division in 2017 compared to the previous year, the CEO of the Netherlands-headquartered producer said.

European LLDPE prices sink to lowest level in 15 months
European linear low density polyethylene (LLDPE) C4 (butene based) spot prices have fallen to their lowest level since late 2016, ICIS data showed. What the market deemed to be “normal” price levels slipped to €1,180-1,120/tonne DDP (delivered duty paid), but pure spot prices at selected accounts were below this, and sellers were jostling to get market share.