Europe top stories: weekly summary
ICIS Editorial
18-Mar-2019
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 15 March.
EU,
UK chems plea again for ‘disastrous’ no-deal
Brexit to be avoided
UK and EU chemicals companies reiterated on
Monday that a no-deal Brexit would have
“disastrous consequences” for the EU-wide
supply chains created in the last four decades.
Europe methanol price
climbs amid US-Venezuela sanction
jitters
Europe’s methanol spot prices have continued on
a modest climb as simmering concerns about the
political situation in methanol-producing
Venezuela prompted talk of EU material heading
to the US.
Germany’s LANXESS faces
headwinds in key markets despite ARLANXEO
sale
LANXESS has gone through a series of dramatic
transformations over the last half decade
improving its resilience as a business, but
exposure to weak end markets is likely to weigh
on the company this year after a difficult
2018.
Germany’s K+S ups 2019
earnings forecast on healthier ferts markets,
Bethune ramp-up
K+S has upped its earnings estimate for 2019 to
€700m-850m on the back of a “favourable”
environment for fertilizers, the ramp-up of its
Bethune mine in Canada and the hope the last
year’s production problems will not
recur, the German muriate of potash (MOP)
major said.
EU’s
chems regulator proposes to restrict hazardous
substances in tattoo inks
The EU is to propose new regulations
restricting the use of hazardous substances in
tattoo inks, the European Chemicals Agency
(ECHA) said.
Increased competition
from Group II base oils presents difficulties
for Group I in Europe, Russia
A recent surge in competitively priced Group II
base oils exports from the US has exerted
pressure on Group I prices in Europe and has
brought about the displacement of Russian Group
I product in certain export destinations.
Indorama, Borealis sign
pledge to reduce plastic waste, increase
transparency
Borealis and Indorama have signed a commitment
to reduce global plastic waste and apply more
transparency to their plastics production
figures, a report by the Ellen MacArthur
Foundation said.
Europe glycerine players
brace for possible tightness in summer
months
European glycerine players are anticipating a
possible hit to stocks of non-genetically
modified (non-GMO) material in the summer
months, with increased biodiesel imports
expected.
Brexit-related chems
stockpiling continues as producers eye UK Reach
implications
Stockpiling of chemicals in the UK continues as
clarity on the model for Brexit remains as
elusive as ever, while producers from the rest
of Europe are eyeing their portfolios in light
of the potential for a UK Reach regulatory
system.
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