VIDEO: Red Sea tensions will ripple through Europe chems markets in 2024
ICIS Editorial
14-Feb-2024
LONDON (ICIS)–The Red Sea crisis has shaken the European petrochemicals industry.
Products like PTA and polypropylene, ethylene glycols and HDPE have been highly impacted by reduced imports from Asia. In the long term, there is a shift in buyer behaviour caused by geopolitical uncertainties.
- European buyers moving away from just-in-time delivery
- Fear of trade disruption pushes domestic chemical prices
- Reduced sentiment on just-in-time deliveries leads to inventory building
Input from Chris Barker, Meeta Ramani, Heidi Finch, Nigel Davis, Tom Brown and Will Beacham.
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