Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 22 January.

Europe PP supply very tight, spot prices soar 40% since November
Polypropylene (PP) supply has tightened significantly as January has progressed, and end-month buyers are facing stronger increases than early settlers.

Europe PET, PTA tightness continues as market fears logistics woes could persist
Polyethylene terephthalate (PET) and upstream purified terephthalic acid (PTA) are tight in Europe because the global flow of product has been disrupted by a shortage of containers and surging freight costs.

INSIGHT: Pandemic could accelerate the decline of globalisation
The onset of the coronavirus pandemic has hastened the change from a globalised world order towards more regional systems of trade, amid a near-collapse of global travel and heavy challenges for supply chains, according to a partner of the World Economic Forum (WEF).

Sector collaboration, funding and regulation vital for chems to decarbonise
Greater collaboration between the public and private sectors is vital in helping heavy industries like the chemicals segment to decarbonise and meet sustainability targets, according to international energy leaders.

Europe oleochems Q1 prices up sharply on short supply, potential rebalancing from April
European oleochemicals first-quarter contract prices have been settled at triple-digit increases on the back of ongoing tightness.

Crude demand lower on Q1 lockdowns, OPEC+ gains depend on US producers
The crude oil market has started 2021 with prices strengthening but the demand outlook subdued, as the latest European lockdowns attempt to contain the spread of the pandemic, the International Energy Agency (IEA) said on Tuesday.

Trammo and Proton Ventures sign MOU for worldwide green ammonia projects
International fertilizer trader Trammo on Monday announced the signing of a memorandum of understanding (MOU) with Dutch engineering group Proton Ventures for joint cooperation on worldwide green ammonia projects.