Europe top stories: weekly summary
ICIS Editorial
16-Oct-2017
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 15 October.
BASF aims to become agro global
major with €5.9bn Bayer seeds
acquisition
Formerly a bystander
in the large-scale mergers and acquisitions (M&A)
activity that has swept through the agrochemicals industry,
BASF’s announcement on Friday of plans to invest €5.9bn
to acquire a large part of Bayer’s seed business and some
herbicides operations reestablishes the German chemical firm
as a major player in the agrochemicals space, according to
analysts.
Europe styrene spot softer on weak
Asian sentiment, improving
supply
European styrene spot
prices have fallen further this week despite expectations
that values would be firming following the Golden Week
holiday in China, sources said on Friday.
Europe October EPS
prices vary on robust demand, logistics
issues
Players in the
European expandable polystyrene (EPS) market have
settled early October contracts at a wide variety of prices
that range from rollovers to decreases up to €60-90/tonne,
depending on the supplier and the region, sources said on
Thursday.
Balanced oil
markets in 2018 if OPEC producers hold their nerve –
IEA
The Paris-headquartered
International Energy Agency (IEA) sees roughly balanced oil
markets next year if OPEC production remains unchanged and
weather conditions remain normal, it said on Thursday.
Europe market
reacts to BASF TDI purity
issues
Multiple foam
manufacturers have announced temporary production stops,
following news that BASF is recalling certain Ludwigshafen,
Germany-manufactured toluene di-isocyanate (TDI)
deliveries, leaving the European market in a state of
confusion.
Spanish stock up as
Catalonia’s independence
‘suspended’
The Spanish stock
exchange was trading higher on Wednesday morning as the
president of Catalonia suspended the region’s independence
soon after declaring it as he asked the central government
for “dialogue” for an ordered withdrawal.
Europe chemicals
logistics improving but weather adds
strain
The logistical situation
is slowly improving in the European chemical markets
following the re-opening of the German Rhine valley route
last week, according industry players.
INSIGHT: Europe
petchem players upbeat at EPCA 2017, face digital
challenges
European
petrochemical industry players were upbeat at the
51stEuropean Petrochemical Association (EPCA) meeting in
Berlin last week. Producers are broadly optimistic given
the economic backdrop. For the core of the industry, the
decline in the cost of naphtha and the ready
availability of LPGs (liquefied petroleum gases)
and ethane underscore a degree of competitiveness
that has not been apparent for years.
Europe PE, PP
buyers facing hikes as sources prepare for Fakuma trade
fair
Polyethylene (PE)
and polypropylene (PP) buyers in Europe are facing
higher prices for October, as new capacity comes on stream in
North America, and many prepare to head to the 25th Fakuma,
the industry event in Friedrichsafen, Germany, due to begin
on 17 October.
Germany’s K+S to
merge potash, salt units, sets €3bn EBITDA
target
K+S is to merge its
muriate of potash (MOP), salts, and magnesium units in a
company-wide strategic overhaul, as the German fertilizer
producer sets out to achieve annual operational savings of
€150m ($176m) by 2030.
(Please click the link to read the full story)
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