Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 23 July.

OUTLOOK: Europe PET torn between logistics mayhem and lockdowns easing
Gone are the days of predictable trends in the European polyethylene terephthalate (PET) market as it rides the choppy waters of momentous global events. The second half of 2021 will be characterised by higher costs for shipping, and industry which increasingly fails to offer reliability in delivery times.

Europe PC supply improves slightly but still lags behind demand
The European polycarbonate (PC) market continues its long haul back to a more balanced supply and demand situation, although the amount of material available is still scarce, according to market sources.

China’s urea export availability continues to stump market
There is uncertainty on the quantity of China urea exports in August with the government still focusing on keeping the domestic market well supplied and prices under check.

River Rhine water levels recede as some parts to reopen to barge traffic
Water levels on the River Rhine continue a slow return to normality and more than 25km of a prior closure could reopen to barge shipping later in the day, the German federal waterways authority WSV said to ICIS on Wednesday.

CO2 emissions from coal to hit record high on rising electricity demand – IEA
Renewable energy is expanding rapidly but not fast enough to meet the near 5% global increase in electricity demand this year, the International Energy Agency (IEA) warned this week.

UK’s Synthomer ups earnings outlook for 2021 on H1 healthy margins
Synthomer’s earnings before interest, taxes, depreciation and amortisation (EBITDA) are now expected to stand for the whole year “in excess” of £500m, at least 11% higher than the UK chemicals producer forecast in April.