Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 5 January.

OUTLOOK ’24: Naphtha, gasoline brace for ‘uncharted territory’ as crude enters another tumultuous year
The fate of the European naphtha and gasoline markets is likely to be determined by crude oil volatility in 2024, with a sharp shift in upstream prices and a flattening downstream demand curve to mount pressure upon refiners.

European Melamine sellers request China ADD revision; spot prices firm on shipping delays
European melamine spot prices have firmed as there are some import delays expected during January.

OUTLOOK ’24: Weak end user demand and freight key challenges for Europe PET, PTA
Chaos for importers is an opportunity for domestic suppliers of the polyethylene terephthalate (PET) value chain, but the lack of end user demand still looms large.

Eurozone manufacturing contracted further at the end of 2023
Manufacturing in the eurozone remained in contraction in December 2023 with purchasing managers indices (PMIs) reflecting steep declines in output and employment but an easing of falls in demand and purchasing.