Europe top stories: weekly summary
ICIS Editorial
16-May-2022
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 13 May.
Europe VAM shortage
exacerbated by US force majeure
declarations
A force majeure declaration on vinyl acetate
monomer (VAM) in the US is pressuring the
already tense supply situation in Europe.
Europe PC producers mull
cuts in run rates amid ample supply, softening
demand
European polycarbonate (PC) producers are
mulling reductions in their operating rates
amid lengthening supply, falling demand and
claims of eroded margins.
UK Q1
GDP grew 0.8%, contracted in March
UK GDP grew 0.8% quarter on quarter in the
first three months of 2022, but the economy
contracted in March, the Office for National
Statistics (ONS) said on Thursday, after
consumer spending slowed due to a surge in the
cost of living and general economic unease.
High
inflation to dent demand; supply chain costs
increase by up to 60% in Q1 – SABIC
CEO
SABIC is facing “numerous challenges” related
to supply chain woes as well as higher
production costs while high inflation could end
up denting end demand, the CEO at the Saudi
petrochemicals major said on Thursday.
Europe MPG spot prices
tumble to seven-month low on poor
demand
The European mono propylene glycol (MPG) demand
outlook is uncertain as there is no indication
of improved buying interest even after prices
plummeted to a 36-week low.
Europe PE, PP still
reeling from chaotic broader environment – ICIS
analysts
Trade flow disruptions and soaring energy costs
continue to impact the polyethylene (PE) and
polypropylene (PP) markets in Europe, according
to ICIS.
Post-pandemic ‘revenge
spending’ less of a threat to polymers than
wider economic woes – analyst
Consumers are “revenge spending” on things they
could not do during pandemic lockdowns,
services instead of goods, although this is not
as much of a threat to the polymers sector as
wider economic trends, an analyst told the ICIS
European Polymers Conference on Monday.
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