Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 8 May 2020.

Coronavirus pandemic creates new application for PMMA sheet market
The coronavirus pandemic has caused a huge surge in demand for polymethyl methacrylate (PMMA) transparent sheets, used across the globe as protective barriers to prevent the spread of the virus.

INSIGHT: Different views on pricing, supply and demand split Europe R-PET market
The European recycled polyethylene terephthalate (R-PET) market is facing a tough time due to the double threat of plunging oil and virgin PET prices and impacts on demand and availability because of the coronavirus pandemic.

Borealis presses on with large projects, US Gulf capacities may be revised – CEO
Borealis’ cost cutting programme will not affect its large projects in development in Europe, the Middle East, and North America, but capacities for the Gulf Coast polyolefins project may be revised in view of the current economic slump, according to the CEO at the Austrian polymers and fertilizers major.

Eurozone construction output slumps in April, sentiment collapses
Output in the chemicals-intensive construction sector across the eurozone collapsed in April as coronavirus-led lockdowns dampened logistics and sentiment, analysts at IHS Markit said on Thursday.

Europe IPA prices ease for the first time in three months
European isopropanol (IPA) prices fell at the high end this week pushing the mid-point price down for the first time in nearly three months after reaching a historic high on unprecedented demand.

Global ICIS Petrochemical Index (IPEX) for April plunges to November 2003 level
The ICIS Petrochemical Index (IPEX) plunged in April as the impact of the falling oil price and coronavirus-driven demand destruction slammed the sector.

Europe chems stocks fall slightly amid grim economic data
European chemical stocks fell slightly on Wednesday amid fresh waves of economic and sectoral data emerging that indicated the extent that demand had fallen in April.

Europe PE monomer-polymer spread could widen further in May
At the end of April, the spread between the ethylene contract and net polyethylene (PE) prices in Europe was at its widest since the beginning of 2018.

SABIC enters loss in Q1 as volumes, selling prices fall on crude, pandemic
SABIC posted a net loss in the first quarter, year on year, and sales and earnings fell sharply on the back of lower volumes and selling prices, the Saudi petrochemicals major said on Monday.

INSIGHT: Hopes for a revival of peak PET summer sales in Europe evaporate
Demand for polyethylene terephthalate (PET) soared in Europe in the first quarter, but come May and buyers’ appetite is subsiding as end users work through their PET-packaged food, water, hygiene and cleaning related stocks.