Europe top stories: weekly summary
ICIS Editorial
13-Aug-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 10 August.
Rhine
water levels stifle shipping, BASF Ludwigshafen
production
Chronic low water levels along key European
chemicals shipping artery the River Rhine are
having a significant impact on the amount of
product that can be transported, according to
sources on 6 August.
Europe styrene spot firms
on supply limitations, Covestro confirms
FM
European styrene spot prices for August are on
an uptrend on the back of supply limitations,
including a force majeure in the Netherlands,
and logistical problems, sources said on 7
August.
Global July IPEX down as
US aromatics fall sharply
Here are the July IPEX values and details of
the major commodity petrochemical and polymer
contract and average spot price movements for
the month.
ARLANXEO divestment good
for LANXESS but proceeds lower than expected –
analysts
LANXESS’ shares jumped 5% on Wednesday after
the German chemical producer announced it is to
sell its remaining 50% stake in ARLANXEO to
Saudi Aramco for an expected €1.4bn.
Low
August demand masks European acrylate esters
supply constraints
Seasonally low August demand is masking the
supply constraints in the European acrylate
esters market, linked to critically low water
levels on the Rhine and upstream production
problems.
Europe TiO2 two-year run
of price hikes ends as supply
improves
Greater import availability from China and
signs of muted demand are pressuring European
titanium dioxide (TiO2) prices lower for spot
and third-quarter (Q3) contracts, putting an
end to two years of price hikes.
Trade
tensions, supply risks could weigh on 2019
crude oil demand – IEA
Intensifying trade tensions between the US and
China could hit economic growth and reduce
crude oil demand next year, while supply
disruption risks could push prices further
upward, the International Energy Agency (IEA)
said on 10 August.
Inclusion of HDPE in US,
China tariffs comes as shock to European
buyers
The inclusion of high density polyethylene
(HDPE) in the list of products to have a 25%
tariff slapped on them between the US and China
from 23 August has surprised many players in
Europe, particularly those with international
businesses.
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