Europe top stories: weekly summary
Jonathan Lopez
20-Jun-2022
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 17 June 2022.
INSIGHT: Europe PET
thrown into disarray by chaos in
PX/PTA
The polyethylene terephthalate (PET) market in
Europe has been thrown into disarray by highly
speculative positioning, particularly regarding
upstream paraxylene (PX) prices.
Europe chemicals stocks
fall sharply as recession fears
increase
European chemicals stocks were falling sharply
in European afternoon trading as recession
fears rose, despite the eurozone’s central
bank’s assurances on Wednesday of supporting
the economy with more quantitative easing.
OCI
to triple Rotterdam ammonia import terminal
capacity to 1.2m tonnes/year
OCI is aiming to triple ammonia throughput in
its import terminal at the Port of Rotterdam to
1.2m tonnes/year by 2023, the
Netherlands-headquartered fertilizers major
said on Wednesday.
AkzoNobel’s updated Q2
outlook weighed down by China lockdowns, slower
Europe DIY demand
AkzoNobel expects to post a negative operating
income impact of about €40m for the second
quarter due to the COVID-19 lockdowns in China
which impacted both its paints and coatings
businesses, the Dutch firm said on Tuesday.
Borealis divestment
lifted by higher fertilizer prices, polymer
values ‘normalising’ – CEO
Higher fertilizer prices after Russia’s
invasion of Ukraine helped Borealis to achieve
an improved price for the divestment of its
fertilizer division to Agrofert, the CEO of the
Austrian polyolefins major said on Monday.
Possibility of recession
weighs heavy on Europe chemicals distribution
sector
European chemicals distributors face tough
times in coming months as consumer demand is
weighed down by ever-increasing prices, with
the sector bracing for a negative impact.
ECHA
to put existing data work as it looks beyond
registration data – exec
The European Chemicals Agency (ECHA) is looking
to take a step beyond the chemicals
registration data evaluation process, set to
run through much of this decade, towards more
strongly utilising the information it has
available, according to the EU chemicals
regulator’s director of risk management.
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