Europe top stories: weekly summary
ICIS Editorial
20-Aug-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 17 August.
Chemicals industry capex
remains muted – UBS
Global average chemicals industry capital
expenditure (capex) remains muted amid
forecasts of weaker global growth and the
spectre of trade wars between key economies,
investment bank UBS said.
Europe PVC export prices
fall on Turkey currency volatility
European polyvinyl chloride (PVC) export
prices and PVC prices in Turkey have fallen as
demand has been reduced by the volatile lira
and economic issues, according to sources.
Chem
protectionism, exports to China stumbling
blocks for EU-Mercosur FTA
Mercosur’s excessive reliance on exports to
China and industrial protectionism in chemicals
are core stumbling blocks to reaching a free
trade agreement (FTA) with the EU, a policy
paper published by the 28-country bloc said.
Turkey polymers players’
pessimism grows as lira collapses to record
lows
Turkish polymer players fears uncertain times
ahead as the Turkish lira (TL) fell to a record
low.
India
expected to stop urea imports by 2021 on rising
domestic production
India is to stop urea imports by March 2021,
down from current levels of 6m tonnes/year, as
new domestic manufacturing capacity comes on
stream, according to a report by India Ratings
and Research.
BASF
production rates to normalise as Rhine
conditions improve
Shipping and production conditions have
started to normalise at BASF’s Ludwigshafen
site, a spokesperson for German chemical major
said, as water levels start to rise along the
River Rhine.
Polymers players shrug
off Turkish lira, fears of capital controls
rise
The Turkish lira has recovered ground from
last week’s historic lows but some
petrochemical players trading with the country
are shying away from the currency, which has
prompted fears capital controls will be
implemented in order to stop the freefall.
African polymers buyers
set to benefit from Turkish lira
crash
African polymer prices have stabilised this
week but there is chance of further softening
in the coming months as volumes originally
allocated to Turkey are set to be offered into
Africa.
Europe PS supply
unaffected by upstream woes amid subdued
activity
The European polystyrene (PS) market remains
unfazed by upstream woes amid subdued activity
due to summer holidays, with contract
negotiations for August barely moving forward.
Turkey’s Petkim stands to
gain from depreciated lira – bank
Turkey’s petrochemical major Petkim stands to
benefit from the severe devaluation of the
Turkish lira (TL) amid the ongoing financial
crisis, Moscow-based investment bank
Renaissance Capital said.
Europe PE market ponders
effect of China-US tariffs, confusion on some
grades
European polyethylene (PE) players –
producers, traders and buyers – are trying to
work out how tariffs slapped on US polyethylene
(PE) into China might affect them.
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