Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 26 February 2021.

BASF calls for pragmatism on EU green plans as Q4 profits surge
BASF performed better than its own forecasts had predicted in 2020, resisting the economic onslaught brought about by the pandemic, on the back of healthy operations in China and robust Q4 demand in other regions, the CEO of the German chemicals major said on Friday.

BASF proposes stable dividend despite pandemic, sees support from organic growth
BASF management on Friday said a €3.30/share dividend would be proposed to the annual meeting as the company generated what it called a solid cash flow in 2020 despite the pandemic.

Europe plasticizers short supply prompts ‘desperate’ search for DOTP
The European plasticizers markets continue to take a bit of a beating as tight supply, particularly for dioctyl terephthalate (DOTP), shows no sign of easing in the short-term.

EU chems output to grow 3% in 2021 but ‘green shoots’ need supportive industrial policy – Cefic
EU chemicals production is expected to increase 3% this year after a decline of nearly 2% in 2020, industry body Cefic said on Thursday.

Roehm mulls 250,000 tonne/year MMA plant at OQ Chemicals US Gulf Coast site
Roehm has signed a memorandum of understanding (MoU) with OQ Chemicals to potentially build a 250,000 tonne/year methyl methacrylate (MMA) plant in the US Gulf Coast, the German chemicals producer said on Tuesday.

Germany petchem firms expect big uptick in orders – Ifo
As the global economy revives from the pandemic-induced slump, Germany’s export-orientated, petrochemicals-intensive manufacturers are expecting a significant uptick in orders over the coming months, research institute Ifo said on Tuesday.

Europe VAM spot prices hit 31-month high on extreme supply tightness, strong demand
Spot prices in the European vinyl acetate monomer (VAM) market rose substantially last week on the back of extreme supply tightness and very strong demand in the continent.