Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 8 March.

Europe MMA February contracts drop on looser supply fundamentals, middling demand
European February methyl methacrylate (MMA) contracts have settled at a decrease on the back of looser global supply since mid-2018 and distinctly average demand.

Europe MEG spot price recovery in sight after weeks of declines
A European monoethylene glycol (MEG) spot price recovery is set to continue after truck prices increased for a second week running.

Evonik’s stock jumps on methacrylates ‘impressive’ €3bn proceeds
Evonik’s stock shot up after the company announced US private equity fund Advent is to pay €3bn for its methacrylates business as well as higher-than-expected proceeds, according to equity chemicals analysts.

‘Gigantic’ return on Evonik methacrylates business sale – CEO
The €3bn deal value for the sale of Evonik’s methacrylates business exceeded market expectations and gives additional flexibility for the Germany-based specialty chemicals producer’s growth plans, CEO Christian Kullmann said.

Europe acetone may lengthen on US ADDs, likelihood in doubt
The European acetone market may lengthen if US authorities place antidumping duties (ADDs) on material from the EU.

AEPW to broaden membership, innovation on waste reuse key to success – ACC’s CEO
The Alliance to End Plastic Waste (AEPW) launched by private companies in January is set to broaden its membership to national chemicals trade groups as well as non-governmental organisations (NGOs), the CEO at US trade group the American Chemistry Council (ACC) said.

Europe PP prices rise, but no shortage of supply
European polypropylene (PP) prices are moving up in March, but the market is no tighter than balanced, according to most buyers.

Stand-off between PET buyers and sellers spans Europe and Asia
Polyethylene terephthalate (PET) markets in both Europe and Asia are showing upward pressure on production costs in what should be the start of peak sales, yet buyers in central Europe are holding back.

Europe March PE prices reverse nine-month downward trend
European polyethylene (PE) prices are moving up for the first time since June 2018.

Separated UK waste collection would significantly increase costs – Suez
Although separated waste collection systems in the UK would increase quality, it would also raise costs significantly, according to an executive at waste treatment firm Suez.

Chemical recycling to reach maturity in 5-10 years – execs
Chemicals recycling technology is continuing to mature and could become mainstream within the next five to 10 years, according to executives from BASF and INEOS Styrolution.