Europe top stories: weekly summary
ICIS Editorial
06-Jul-2020
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 3 July.
June
IPEX up on stronger crude, recovering
volumes
Petrochemical prices rebounded in June on the
back of the stronger crude oil market and
recovering volume demand, pushing the monthly
IPEX higher.
Germany’s automobile
production to fall 25% in 2020 – trade
group
Germany’s auto production is expected to fall
25% to 3.5m units this year, and domestic
new-car registrations are expected down 23% to
2.8m, the country’s auto industry trade group
VDA said in a forecast on Friday.
Europe methanol futures
liquidity surges in June, open interest
rises
Activity in the European methanol futures
market surged in June, with the highest
year-to-date monthly volumes and the
second-highest trading month on record.
INSIGHT: European
packaging demand unravelling as lockdowns
ease
As with most end markets, dynamics in the
European packaging industry have been
completely restructured in the wake of the
coronavirus pandemic.
Europe PE faces falling
demand, higher capacities as fortunes with PP
diverge
The European polyethylene (PE) and
polypropylene (PP) markets have so far survived
relatively unscathed the pandemic-induced
recession, but the true testing times are yet
to come as weakening demand meets increased
capacities.
Oman’s OMIFCO to forge
new path on end of Indian agreement
In India, the urea offtake agreement between
the government and Oman India Fertiliser
Company (OMIFCO) is unlikely to be extended
beyond 14 July 2020, several sources confirmed
exclusively to ICIS.
Europe ACN market takes
slow, steady steps towards a still-distant full
recovery
The European acrylonitrile (ACN) market is
recovering on the back of improved demand from
many end sectors, but it is still a long way to
go before it returns to a “normal” situation.
German plastics recyclers
in ‘critical situation’, public incentives
needed – trade group
Germany’s plastics recyclers are in a “critical
situation” because of the coronavirus pandemic
and things could become even worse in coming
months, according to the country’s recyclers
trade group Bvse.
BP
divests its aromatics, acetyls business to
INEOS for $5bn
BP has agreed to sell its globals
petrochemicals assets in aromatics and acetyls
to INEOS for $5bn, the two majors said on
Monday.
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