Europe top stories: weekly summary

ICIS Editorial

21-Feb-2022

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 18 February.

Europe IPA, MIBK face pressure from ample supply, MEK surges
European isopropanol (IPA) and methyl isobutyl ketone (MIBK) prices are stable-to-soft amid ample supply and quiet demand conditions, while methyl ethyl ketone (MEK) pricing firms on continued tight supply.

Europe PE market facing high costs as demand dwindles
Polyethylene (PE) players are facing high upstream costs as crude and energy prices remain high, but demand is beginning to flag.

Orlen confirms closure of Czech Republic’s Paramo base oils production from March
Orlen Unipetrol’s subsidiary in the Czech Republic producing base oils, Paramo, will permanently end production from March, a company source at Orlen Oil confirmed to ICIS.

EU passenger car registrations fall in January by 6%
EU passenger car registrations in January fell by 6% year on year, leaving behind double-digit decreases in the previous six months, the European Automobile Manufacturers’ Association (ACEA) said on Thursday.

INSIGHT: Shifting market forces raise questions for current Europe PVC price highs
European polyvinyl chloride (PVC) spot and contract prices are currently at near-record highs but shifting market fundamentals raise questions about how sustainable the current levels are.

Crude oil prices decline $3.00/bbl on easing Ukraine tensions
Crude prices fell around $3.00/bbl on Tuesday amid an easing of Ukraine tensions following announcements from the Russian defence ministry that some of its troops stationed close to the Ukrainian border had returned to their bases.

Europe methanol sellers remain bullish for Q1 despite falling spot prices
European methanol sellers remain bullish for Q1 despite a drop in spot demand from gasoline blending.

Swiss Clariant’s share price collapses after investigation into firm’s accounting announced
Clariant’s share price has plummeted in response to the announcement that an investigation into accounting at the Swiss company was underway on Monday.

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