Europe top stories: weekly summary

Source: ICIS News


LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 27 May.

Europe etac prices widen, mixed views of demand
The low end of spot prices for ethyl acetate (etac) in Europe fell slightly in the week ended 18 May, widening the assessed range, as demand remains generally quiet.

European expectations for US PE imports loom large but no prompt supply
European polyethylene (PE) buyers are waiting for imports from new US capacities to arrive in the region, but volumes have been sparse and most sources do not expect much significant supply for weeks yet.

Poor start to MMA coatings season on inflated growth targets
It has been a disappointing start to this year’s coatings season for European methyl methacrylate (MMA) players, largely because of the over-inflated growth estimates for the year.

Denmark's shipping major Maersk to comply with US sanctions on Iran
Maersk is set to wind down its activities in Iran in response to the US breaking away from the nuclear deal with the country, with a timeline for withdrawal still to be determined, a spokesperson for the Denmark-based shipping major said on Monday.

INSIGHT: Standoff between oil and UK government main obstacle to E10
The UK government and the country's transport fuel suppliers have been entrenched in a disagreement over whether biofuel E10 will be mandated by the government or introduced by suppliers at petrol stations, delaying its introduction for years, according to the biofuel’s supporters.

UK's Recycling Technologies signs £50m offtake deal with InterChem
UK chemical recycling start-up Recycling Technologies has signed an offtake deal with traders InterChem which will sell all the polymer feedstock – valued at £50m – produced by its plastics recycling facilities over the next five years.

European cracker margins fall on feedstock gains
European ethylene cracker margins have fallen week on week on the back of feedstock gains, the latest ICIS margin analysis showed.

Europe acrylates fundamentals balanced, but Russia supply restrictions during FIFA World Cup possible
European acrylates supply is likely to stay balanced with demand through the summer, provided there are no prolonged delays to plant maintenance restarts, unplanned outages or lengthy disruption to logistics.

Eurozone manufacturing hits 18-month low but growth remains ‘robust’
The eurozone’s manufacturing industries growth hit an 18-month low in May but remained at “robust” rates despite a slowdown in Germany and France and a more cautious outlook from entrepreneurs across the 19-country currency union, analysts at IHS Markit said on Wednesday.

Europe PP spot prices rise as sentiment shifts on higher costs, tighter supply
European polypropylene (PP) spot prices are increasing as market sentiment shifts on the back of higher upstream costs and the lack of cheap spot imported product.

Turkish polymer players face lira crisis calmly but fear for economic growth
Players in the Turkish polymer market have become accustomed to economic crisis as repeated political and financial issues have limited market activity over the past few years.