Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 16 July.

Turkey PE, PP markets expected to remain steady throughout July
Players in the Turkish polyethylene (PE) and polypropylene (PP) markets have seen little change in dynamics in July, with expectations that this will continue for the rest of the month.

Brexit-related ‘Repeal Bill’ provides certainty to chemicals – UK’s CIA
The UK government’s publication of the so-called Repeal Bill gives the highly regulated chemical industry certainty to continue trading with its EU partners, the country’s chemical trade group said on Wednesday.

Crude prices subdued as waning investor confidence bites – IEA
OPEC’s crude oil output cuts decreased in June while Libya and Nigeria increased their own production, prompting investors to turn bearish on the back of waning confidence about increasing prices, the International Energy Agency (IEA) said on Thursday.

Lack of supportive policies puts French chems competitiveness at risk – UIC
The new French government should pass specific measures targeting the chemical industry if it wants to keep the second largest exporter in the country competitive with its peers in Europe, according to the two top executives at the country’s trade group.

Shutdowns, force majeures weigh on Europe Q2 results – Bernstein
A recent shutdown is expected to weigh down on second-quarter results for Swiss-based Clariant while a force majeure at Evonik may do the same, according to analysts at Bernstein Research on Tuesday.

INSIGHT INTERACTIVE: June IPEX down 2.6% reflecting lower crude prices
Significant price volatility for some petrochemicals over the past few months has overshadowed steadier trends more closely related to crude oil and overarching market direction.

Ukraine’s Karpatneftekhim resumes HDPE and begins PVC production
largest petrochemical plant in Ukraine, Karpatneftekhim, which is situated in the Kalush, Ivano-Frankivsk region, resumed production of high density polyethylene (HDPE) on 6 July after a five-year shutdown, the company’s press service said.

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