Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 10 January.

OUTLOOK ’20: Sulphuric acid market begins 2020 on bearish note
As festive holidays come to a close for much of Europe, players return to their desks amid a bearish outlook for global sulphuric acid trading.

Europe PE players begin to discuss January, as crude prices slide
Pricing discussions for January polyethylene (PE) in Europe have been slow to start, as some regions returned to work only on the 7th, but initial offers are being made and deliberated, as upstream crude oil prices slide after their recent sharp spike.

INSIGHT: US-Iran tensions grow, crude markets unflustered
Tensions continue to escalate between the US and Iran, with several large shippers reportedly halting traffic through the Strait of Hormuz but oil prices have failed to sustain spikes, although implications for petrochemicals remain substantial.

INSIGHT: ICIS index charts 17% fall in global petchem prices in 2019
Petrochemical prices fell sharply on average in 2019 as demand growth weakened and supply length increased. The ICIS Petrochemical Index (IPEX), which is based on contract and monthly average spot prices in a basket of 12 commodities, including the major olefins, aromatics and polymers across the three major producing and consuming regions, fell by 17% year on year. In northeast Asia, where prices tend to react more swiftly to market influences, the annual average fall in the IPEX was 19%.

European LPG market sentiment buoyed by tightness, higher January contract price
Market sentiment in the Europe liquefied petroleum gas (LPG) spot market has been buoyed by continued tightness amid improved demand, coupled with company-contracted prices settling at substantially higher levels.