Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 15 September.

EU chemicals imports, exports volumes down but trade balance rises in January-July 2023
Chemical imports and exports declined in the EU, but the trade balance for the sector grew in January-July year on year, according to the bloc’s statistics agency, Eurostat, on Friday.

German chem industry sales to drop 14% in 2023, no recovery on horizon – VCI
Germany’s chemicals sector is likely to shrink dramatically in 2023, a substantially sharper fall than that seen the previous year, with the outlook for the sector becoming bleaker as the year continues, according to industry body VCI.

Mixed polyolefin bale spot prices have fallen to zero
Europe’s mixed polyolefin bale spot prices have fallen to zero at the low-end for the first time, as distressed values seen in Germany and the Netherlands in recent weeks have become more widespread.

Global oil demand to increase in 2024 – OPEC
Total global oil demand is set to increase in 2024 after surpassing pre COVID-19 levels this year, with the bulk of consumption growth expected to come from China, India and the Middle East, OPEC said on Tuesday.

Europe PE/PP spot prices jump on upstream costs
European polyethylene (PE) and polypropylene (PP) spot prices mostly firmed, with suppliers beginning September monthly contracted discussions with offers beyond the monomer increases.