Europe top stories: weekly summary

ICIS Editorial

20-Jan-2020

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 17 January 2020.

Europe BD spot prices firmer on supply constraints, better demand
Supply constraints amid the traditional pick-up in demand have made for a more positive start to 2020 than butadiene (BD) sellers had been expecting.

Green shoots for potash fertilizer market
The global muriate of potash (MOP) fertilizer market is showing signs of recovery after a lacklustre fourth quarter and slow festive season.

INSIGHT: US-Iran hostilities highlight Iraq’s precariousness
The recent outbreak of hostilities between the US and Iran has underscored the potential for escalating tension in the Middle East to impact chemicals pricing and trade flows.  But the real present risk factor in the region may be Iraq, the battleground the two countries chose for their skirmishes.

Explosion at reactor caused IQOXE’s blast, death toll rises to three
The explosion at IQOXE’s Tarragona chemicals plant in Spain on 14 January occurred in a reactor, which then ignited a nearby storage tank, a company spokesperson told ICIS.

Tarragona chemicals park running normally after IQOXE blast leaves two dead
Operations at Tarragona’s chemicals park in Spain are running normally after a blast at IQOXE’s facilities left two dead and eight injured.

PC market next step in Shell’s chems expansion plans – executive VP
Plans to expand into China’s polycarbonates (PC) market is the next phase in Shell’s strategy to double its chemicals earnings by 2025, by focusing on products where the Netherlands-based oil and gas major can leverage a competitive advantage, according to Shell Chemicals executive vice president Thomas Casparie.

Chems shipping markets watchful but unmoved as US-Iran tensions cool
Iran is unlikely to attempt to shut down traffic through the Strait of Hormuz in spite of high political tensions, although there is scope for shipping costs to escalate.

Europe jet fuel market bearish on abundant supply, unfazed by Middle East tensions
Fundamentals in the European spot jet kerosene market have been bearish this week, with availability broadly outpacing demand amid a seasonal low in demand.

Europe methanol hits four-month high on global outages, downstream markets
European methanol spot prices have risen to a four-month high on the back of pressure from higher US and Asian values and US-Iran tensions.

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