Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 2 December.

INSIGHT: Easing in supply chains could signal further problems for Europe’s chems sector ahead
Easing supply chain disruption has given petrochemical producers in Europe some respite in the wake of recent crashing demand. But the smoother flow of product could lead to further destabilising of market fundamentals, rather than providing balance to the market.

UK Reach deadlines to be extended by three years following significant industry support
The UK Government has decided to extend the current submission deadlines for UK Reach by three years for each stage of implementation, following overwhelming support from a public consultation.

Europe ethylene, propylene spot muted, managing balances remains a challenge
On the face of it, European ethylene and propylene markets are quiet, and players describe reasonably steady conditions.

EU must mirror US to build an attractive green climate for chemicals – Cefic DG
The US has managed to build a green business case for chemicals companies with the Inflation Reduction Act (IRA) and the EU should emulate it, the director general (DG) at Europe’s chemicals trade group Cefic said.

Europe propylene oxide demand outlook looks sluggish into Q1
Europe’s consumption of propylene oxide (PO) and its derivatives has been sluggish through H2, due to high energy costs, the economic downturn, and shifting consumer patterns.

Global weekly spot IPEX down with northwest Europe leading regional declines
The ICIS Petrochemical Index (IPEX) fell 2.5% in the week, dragged down by large fall in northwest Europe and declines in Asia and the US Gulf.