Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 16 May.

INSIGHT: Markets rally as US, China de-escalate tariffs stand-off
Markets and chemicals stocks rallied on Monday in the wake of an agreement by the US and China to dramatically cut reciprocal tariff rates for 90 days, signalling the first step in a de-escalation of trade tensions.

INSIGHT: Limited improvements in demand for toluene and downstream sectors in Europe
No significant growth is expected for toluene consumption in the near future, with long markets for certain isocyanates, a disappointing start to the summer driving season and tepid benzene demand stymying near-term growth hopes.

INSIGHT: Sale of SABIC assets in Europe could make strategic sense
A sale by SABIC of its European petrochemical assets could make strategic sense as the company has production in the Middle East, US and China, which benefit from much lower production costs.

Europe butac sellers voice concerns over cheaper Chinese imports amid weak demand
Butyl acetate (butac) sellers in Europe have grown increasingly concerned about competitively-priced imports from China. As spot buying appetite in the continent is already subdued, domestic sellers are facing intense competition to offload material.

European OX market flatlines as construction demand struggles, tariff uncertainty continues
Hopes for a pick-up in European orthoxylene (OX) demand for the rest of 2025 are fading among downstream phthalic anhydride (PA) producers, as orders from the key construction sector remain flat year on year in the early stages of the warm season.