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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