Europe top stories: weekly summary

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.