Europe top stories: weekly summary
ICIS Editorial
15-Aug-2022
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 12 August.
Europe propylene ‘a
disaster’ as spot prices plummet on poor
demand, oversupply
European propylene players say the current
market is a disaster as demand both spot-wise
and contractually is very poor and the
subsequent oversupply continues to weigh very
heavily on spot prices.
German chemicals
logistics costs up on Rhine but companies
‘better prepared’
Chemicals companies on the River Rhine in
Germany are having to hire additional barges to
move product along the key waterway, which is
set to increase their logistics costs during
the third quarter.
Germany’s
energy-intensive producers fear €11bn cost from
natgas levy
Germany’s chemical and other energy-intensive
industrial producers could face more than
€11bn/year in additional costs from
the levy on natural gas
consumption (“Gasumlage”) that will take
effect in October, officials said on Thursday.
Low
Rhine to hinder barge traffic, could affect
production – BASF
Low water levels on the Rhine river in Germany
are set to impede navigation for some barges in
the coming days, while production could be
affected at “individual” plants, German
chemicals major BASF told ICIS on Thursday.
German chems sector under
pressure from gas prices, could persist through
H1 2023
Germany’s chemicals industry has hit a
multiyear low in business expectations due to
the steep increase in gas prices, according to
the Ifo Institute on Tuesday.
Global IPEX slides 7.7%
in July on lower chemical prices in NE Asia, NW
Europe
The ICIS Petrochemical Index (IPEX) slid 7.7%
month on month in July as petrochemical and
plastic prices fell in northeast Asia and
northwest Europe.
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