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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