Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 15 January.

German chemicals reject calls to shut plants as pandemic hits hard
Germany’s top chemical industry trade groups are rejecting calls to shut down plants as part of the country’s “hard lockdown” to contain the second wave of the coronavirus pandemic.

INEOS pushes back Antwerp PDH unit timeline
INEOS has postponed work on the propane dehydrogenation (PDH) unit at its Antwep, Belgium site, opting to prioritise construction of the cracker, a company spokesperson said on Friday.

Germany’s GDP falls 5% in 2020, manufacturing down 10.4%
Germany’s gross domestic product (GDP) fell 5.0% in 2020 due to the coronavirus pandemic – putting an end to a 10-year growth period, the country’s federal statistics agency said on Thursday.

Europe Group III base oils spot prices hit 5-year highs, shortages persist
European domestic Group III base oils spot prices hit five-year highs, with further upward pressure expected this quarter.

European PVC remains tight as export prices hit record
The European polyvinyl chloride (PVC) market remains balanced-to-tight in early 2021, with sellers pushing for increases in January contracts as global prices remain at record levels.

Europe butac prices surge on very tight supply, BASF force majeures continue
European butyl acetate (butac) spot prices have risen sharply, with the ICIS midpoint reaching its highest level since March 2017.