Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 21 January.

Europe PET a basket of confusion, with imports arriving and costs escalating
Polyethylene terephthalate (PET) in Europe is split between those who see incoming imports pressuring the market lower, and those who see limited supply and high costs keeping the market firm.

UK’s Britishvolt to build EV battery factory in north of England
Britishvolt has announced plans to build a £1.7bn electric vehicle (EV) battery factory in Northumberland, the north England, the UK company said on Friday.

Europe bioethanol prices tumble amid healthy availability
European bioethanol fuel prices fell for the first time in nearly a month amid healthy availability, as the first spot trades of the year were conducted last Thursday and Friday.

Crude market could reach surplus in Q2 on muted Omicron impact – IEA
The crude oil market could post a surplus in Q2 as producers increase output to take advantage of prices at multi-year highs, the International Energy Agency (IEA) said on Wednesday.

INSIGHT: Chemically recycled content to be exempt from Spain’s plastic packaging tax
Spain’s draft legislation on the circular economy proposes that material produced by chemical recycling will not be subject to its €450/tonne tax on single-use plastic packaging.

INSIGHT: Shifting global investment in chemicals research is a challenge for established markets
The chemical industry developed through the clever application of chemistry and technology and will continue to do so as companies adapt to meet the climate threat alongside the needs of growing market demand.

Eastman invest $1bn in French hard-to-recycle PET waste chemical recycling facility
Eastman is to invest up to $1bn in a hard-to-recycle polyethylene terephthalate (PET) waste methanolysis-based chemical recycling facility in France, the US chemicals major said on Monday.