Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 10 June.

Austria’s Borealis aims to produce 1.8m tonnes/year of circular products by 2030
Borealis aims to increase its production capacity for circular products, including polymers, to 1.8m tonnes/year by 2030, up from the current 100,000 tonnes/year, the petrochemicals arm of Austria’s energy major OMV said on Friday.

Stricter EU emissions trading system risks denting chemicals global competitiveness – trade groups
Six energy-intensive industrial sectors in Spain, including petrochemicals, have called for “supportive” reform of the Emissions Trading System (ETS) as EU institutions prepare to vote on its reform, the Spanish chemicals trade group FEIQUE said on Wednesday.

Europe MPG players monitor northeast Asian arbitrage as Shanghai lockdown lifted
Players in the European monopropylene glycol (MPG) spot market are monitoring the arbitrage window between Europe and northeast Asia as the COVID-19 lockdown in Shanghai has been lifted.

Europe PE, PP lack direction as players hope for stability
The European monomer contract settlements have left little obvious direction for the polyethylene (PE) and polypropylene (PP) markets.

Global weekly spot IPEX ticks up on rising prices in northeast Asia and northwest Europe
Global spot chemicals prices rose slightly week on week on the back of rising values in northeast Asia and northwest Europe, according to the latest figures from the ICIS Petrochemical Index (IPEX).