Europe top stories: weekly summary
ICIS Editorial
04-Jul-2022
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 1 July.
Fright rates could fall in face of tricky
headwinds
Shipping rates have been a key cost pressure
for the chemicals industry in the wake of the
pandemic, but fundamentals – and therefore
prices – may be set to change course due to
persistent geopolitical pressures.
Europe PET, PTA decouple from Asia amid
potential spikes upstram
The Europe polyethylene terephthalate (PET)
value chain has delinked from a bearish Asia,
forced up by hypothetical record jumps in
upstream paraxylene (PX).
Eurozone manufacturing output falls for first
time since 2020 lockdowns
Manufacturing sector growth in the eurozone
fell for the first time since the initial spate
of lockdowns in the region at the start of the
COVID-19 pandemic.
Germany’s SKW Piesteritz mulls force majeure in
event of gas shortages, price hikes
Ammonia and urea producer SKW Piesteritz will
consider implementing a force majeure if
natural gas supplies are cut and prices
increased as Germany grapples with plunging
availability from Russia, the company confirmed
to ICIS.
EU, eurozone economic sentiment and employment
expectations fall in June
Economic sentiment and employment expectations
contracted in June across both the EU and
eurozone, according to the latest data from the
European Commission on Wednesday.
BASF’s Antwerp, US ammonia output could offset
potential shutdown in Germany – bank
A possible shutdown of ammonia production at
BASF’s Ludwigshafen flagship site could be
compensated by the German chemicals major’s
facilities in Antwerp and the US, investment
bank Baader Bank said on Tuesday.
Weekly spot IPEX shows prices down by 2.6% on
declines across all regions
Spot chemical prices dropped by 2.6% on the
back of declines across every region, according
to latest figures from the weekly ICIS
Petrochemical Index (IPEX).
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