Europe top stories: weekly summary
ICIS Editorial
23-Jan-2023
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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