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