Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 24 January 2019.

Opposing factors create varied scenarios in Europe PET for the rest of Q1
Polyethylene terephthalate (PET) is relatively flat in Europe, but opposing factors such as higher freight rates and poor producer margins, versus generally weak demand and ample supply, are causing mixed views on what lies ahead.

French National Assembly adopts new circular economy measures
French policymakers this week are understood to have backed a raft of new measures to reduce plastic waste, including a ban on single-use materials by 2040.

Reduced loading rates as Rhine levels dwindle
Falling water levels on key chemicals shipping route the River Rhine have resulted in reduced loading rates for vessels and the prospect of higher transportation costs for materials, sources and water agencies said on Wednesday.

European R-PET market needs more clarification on Italian virgin plastics tax
Players in the European recycled polyethylene terephthalate (R-PET) market want more clarification from the Italian government on the implementation of a €450/tonne tax on virgin plastic, sources said this week.

Germany, eurozone sentiment improves on US-China trade truce – ZEW
Germany’s economy started 2020 on a positive note as fears of trade disputes receded after the US and China agreed a trade truce, financial analysts cited by the research institute Zew said on Tuesday.

Europe naphtha contract cracker margins rise, LPG margins drop
European naphtha-based contract cracker margins in Europe have posted an uptick for the fourth consecutive week on the back of lower feedstock prices, ICIS margins analysis showed on Monday.