Europe top stories: weekly summary

ICIS Editorial


LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 20 January.

Europe olefins sentiment lifts on demand uptick; confidence still lacking
Two weeks into 2023 and clearly the mood has improved for European ethylene and propylene market players, bolstered by an uplift in demand which is adding to the perception the worst is now behind for the industry.

SABIC targets 1m tonnes/year of circular products by 2030, eyes world-scale project
SABIC is planning to scale up production of bio-based and chemically- and mechanically derived chemicals to 1m tonnes/year by 2030 and is considering investing in a new world-scale chemical recycling plant to drive that, the company said on Thursday.

Europe extrusion-grade PC January prices fall on softer energy costs, weak demand
January extrusion-grade polycarbonate (PC) contract prices dropped compared with December on the back of very sluggish demand levels and softer energy costs.

BASF 2022 write-downs ‘breath taking’, further risks ahead – Baader
The magnitude of write-downs BASF is expecting to book for its Wintershall Dea oil and gas operations and its chemical business in its 2022 financial results has come as a shock, and risk remains of further energy-related impairments, analysts at Baader Bank said on Wednesday.

German BASF warns that ’22 chem earnings will fall below consensus
BASF warned that 2022 earnings from its Chemicals business will fall below the average estimate from analysts, the German producer company said on Tuesday.

Europe PE margins down on rising naphtha, LPG costs
Polyethylene (PE) margins fell week on week in Europe on the back of more expensive feedstock costs, ICIS margin analysis showed on Tuesday.

Global weekly spot IPEX up on rising chemical prices across all regions
Spot chemical prices were up 2.2% on the back of firmer values across all regions, according to latest figures from the weekly ICIS Petrochemical Index (IPEX).


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