Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 16 December.

Europe PET, PTA yet to finalise 2023 contracts as goalposts move
The European polyethylene terephthalate (PET) and purified terephthalic acid (PTA) markets are still busy discussing plans for 2023 contracts.

German chems, pharma output drops 6% in 2022, prospects bleak – VCI
Production for Germany’s chemicals and pharmaceuticals shrank 6% in 2022, industry body VCI said on Thursday, with every fourth company losing money amid the energy crisis.

Eurozone chemicals collapse worsens, new EU data shows
The collapse in EU and eurozone chemical output accelerated in October, driven by a fall in most major industry locations, according to latest figures released by Eurostat.

INSIGHT: Chemicals output falls as industrial activity contracts globally, 2023 expected weak
It is not so much a question of how low will it go but how slow will it be – and for how long? Capacity utilisation data show that the chemicals sector globally has geared down in the face of current headwinds. And there are many of those.

Switzerland’s Clariant books Swfr225m impairment charge for Romanian bioethanol plant
Clariant has booked a Swiss francs (Swfr) 225m ($241m) impairment charge for its bioethanol plant in Podari, Romania, because it has “not yet achieved the targeted yields,” the Swiss chemicals producer said on Monday.