Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 7 August.

Hopes of V-shaped recovery fade as pandemic resurges
With the second half of the year now fully underway, there are signs of an economic rebound from very depressed levels.

Russia’s SIBUR bullish on H2 despite pandemic eroding demand
SIBUR’s outlook for its petrochemicals business is bullish for the second half of the year if a second wave of coronavirus infections is avoided, the Russian producer said this week.

Economy to recover pre-pandemic output from 2022, low polyolefins prices take toll – Borealis CEO
Economic output pre-pandemic levels are likely to be recovered globally only “beyond 2021” and polyolefins low prices could remain for the foreseeable and put a strain on producers, the CEO at Austrian polymers and fertilizers major Borealis said to ICIS.

Clariant eyes grim Q3 but keeps focus on cash flow to pull through pandemic – CEO
Although Clariant managed to maintain profitability in the first half of 2020, the company is bracing for the economic damage from the pandemic to hit in the third quarter, its CEO said to ICIS.

UK Venator puts bid to sell coloured pigment business on hold
Venator Materials is pausing its efforts to sell its coloured pigments business because of disruptions caused by the coronavirus, the CEO of the UK company said on Tuesday.

July IPEX rises on US, Europe industry revival but falls 25% year on year
Global petrochemical prices rebounded in July as pandemic-induced lockdowns continued to ease in North America and Europe and industrial activity revived, pushing the monthly IPEX higher.