Europe top stories: weekly summary
ICIS Editorial
16-Apr-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 13 April.
Key
petchem end markets most affected by US-China
tariffs – UBS
Chemical end markets like agriculture,
automobile and aircrafts are most likely to be
impacted by the growing tensions between the US
and China over trade tariffs, Swiss investment
bank UBS said.
European MEG sellers
emboldened by Asian rebound as April talks
continue
The European monoethylene glycol (MEG) initial
April contract decrease fell short of original
expectations, but the latest rebound in Asia
seems to have renewed European sellers’
confidence in the spot market.
Saudi
Aramco, Total sign MoU for ‘giant’ $5bn
petchems complex at Jubail
Saudi Aramco and Total have signed a memorandum
of understanding (MoU) to build a “giant”
petrochemical complex at their SATORP refinery
in Jubail, eastern Saudi Arabia, the French
energy major said.
European EPS early April
contracts drop €110-150/tonne, demand weaker
than expected
European expandable polystyrene (EPS) early
April contracts have been agreed at decreases
of €110-150/tonne, largely in line with the
downtrend of the feedstock contract price this
month, sources said.
Lower
inventories, higher demand, economic growth to
support 2018 oil pricing – OPEC
A healthy global economic outlook, stronger US
consumption and high conformity levels with
production cut accords are all expected to
support crude oil pricing through 2018, OPEC
said on Thursday, as prices spike on tensions
in the Middle East.
UK’s
post-Brexit chems industry rules should remain
‘in lockstep’ with EU – CBI
There is little appetite among UK businesses
for a “bonfire of regulations” post-Brexit, and
deviation from EU chemicals legislation in the
UK would lead to upheaval across the economy,
the country’s trade group Confederation of
British Industry (CBI) said.
Europe LLDPE spot prices
down, traders squeezed
European linear low density polyethylene
(LLDPE) C4 (butene based) spot prices are still
under downward pressure, with cast film prices
trading at a discount below blown grades.
Turkey’s polymers market
worsens on slowing economy, international
tensions
The Turkish polyethylene (PE) market has mostly
stabilised this week, but worsening economic
conditions in the country are souring sentiment
among players. Polypropylene (PP) was mixed,
with raffia mostly static but fibre
experiencing further falls.
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