Europe top stories: weekly summary

Author: ICIS Editorial


LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 5 March.

Europe styrene spot prices hit record highs on tight supply, strong demand
European styrene spot prices hit record highs this week on tight supply and restocking-driven demand, with material trading at the highest level since ICIS began tracking the market.

Europe PE, PP offers soar on tight supply, drive converters to allocation
European polyethylene (PE) and polypropylene (PP) spot offers are reaching levels of €2,000/tonne in extreme cases, forcing some converters to allocate their own products as they are unable to procure raw material.

Europe melamine spot pricing close to decade highs, demand outlook robust
European melamine pricing continued to heat up this week on the back of continued supply shortage, with second quarter demand also expected to be strong.

EU, US must agree trade deals with Asian economies after China takes lead - Ifo
The EU and the US should strengthen their trade relationships with Asian economies, following the China-led free trade agreement (FTA) signed in 2020 with 14 countries in Asia-Pacific, German research institute Ifo said on Thursday.

Europe domestic SN500, brightstock FCA prices hit record highs on increased tightness
European domestic Group I base oils spot prices rose following increased tightness in March, reaching record highs for SN500 and brightstock on a FCA (free carrier) NWE (northwest Europe) basis.

Global CO2 emissions fall in 2020 but recovery causing rapid rebound - IEA
Global carbon dioxide (CO2) emissions were lower in 2020 year on year due to the lockdowns-induced lull in the second quarter, but by December they were already 2% higher than in the same month of 2019, the International Energy Agency (IEA) said on Tuesday.

Fluorogases markets remain difficult as Arkema counts cost of US Gulf storms - CEO
Arkema is mulling plans for parts of its fluorogases division as those markets are set to remain difficult in most regions in 2021, according to the CEO at the France-based producer.

Bolivian energy chiefs target green hydrogen projects
Bolivia’s Minister of Hydrocarbons and Energies on Friday announced a strategic plan for green hydrogen generation to increase the country’s energy potential and to reduce greenhouse gas emissions.