Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 6 June.

Europe HDPE spot dragged sub-€1,000/tonne by US offers as US Q1 imports ride high
Spot prices for high-density polyethylene (HDPE) in Europe have fallen below €1,000/tonne as local buyers receive highly discounted US offers against a backdrop of high imports from the US in the first quarter of 2025 and gaping spreads between the regions.

Higher tariffs on Russia embolden European producers to lift nitrate prices
Emboldened by the European Parliament’s decision to go ahead with higher import duties on Russian fertilizers, nitrate producers in Europe have raised prices despite strong objections from the farming community.

Europe pharmaceutical IPA slightly softer, stable demand despite peak season
European spot pricing for premium pharmaceutical grade isopropanol (IPA) has softened slightly, while prices for technical and cosmetic grades are stable amid steady conditions.

European paraxylene contract price for April, May settles following contentious negotiations
Europe paraxylene (PX) contracts for April and May have been finalized in a double settlement.

LyondellBasell enters exclusive talks for Europe asset divestments
LyondellBasell has entered into exclusive talks with an industrial investor for the sale of four European production sites, slightly over a year after launching a review of its asset base in the region.

Asia-Europe shipping prices jump on US-China trading window
Container prices for Asia cargoes to Europe jumped sharply week on week amid a general surge in freight costs as players look to lock down shipments from China to the US during the pause in reciprocal tariffs between the countries.

Limited demand for Europe PET mitigates impact of higher freight rates
Demand for European polyethylene terephthalate (PET) has been blighted by poor weather conditions, economic apathy and significant import arrivals.

LyondellBasell Europe divestment assets had lost money for years – CEO
The assets LyondellBasell has entered exclusive talks to sell to private equity investor AEQUITA had been cash negative on average to the company over the last five years, with CEO Peter Vanacker welcoming a “clean exit” from the businesses.