Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 9 April 2021

INSIGHT: Decarbonisation puts energy-intensive chemicals on the spotlight
The political will to decarbonise energy-intensive industries is there, the funding is there and, increasingly, the rhetoric of multinational chemicals producer executives is there.

Europe PE, PP buyers facing huge hikes, limited spot offers appearing
Polyethylene (PE) and polypropylene (PP) buyers have been under extreme pressure in recent weeks and months to accept an unprecedented round of price hikes, amounting to €250-300/tonne a month in some cases, and this is continuing into April.

Persistent Europe TiO2 tightness, uncompetitive Asian imports drive Q2 upside
Strained Europe titanium dioxide (TiO2) supply and lack of Asian import incentive are driving the upside for Q2 contracts, with supply security concerns heightened during the quarter and possibly into Q3.

Europe fatty acids Q2 contracts increase by triple digits
European fatty acids second-quarter contract prices jumped significantly compared with the first quarter amid severe shortages across the market.

Shell more ‘aligned’ now with US, Europe chems trade groups, spends at least $1.5m in 2020
Shell is now more aligned with the American Chemistry Council (ACC) after the US trade group welcomed in January the return of the US to the Paris Agreement to slow down climate change, the Anglo-Dutch energy major said on Wednesday.

Europe domestic brightstock spot prices jump on short supply
European domestic Group I brightsock spot prices jumped €200/tonne this week due to extreme shortages.

Israel Chemicals second potash producer to sign India MOP supply deal at revised benchmark
Israel Chemicals (ICL) has signed a supply contract with Indian Potash (IPL) for the provision of 600,000 tonnes of standard-grade muriate of potash (MOP) fertilizer, through December 2021, at $280/tonne CFR (cost & freight) India.