Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 22 October.

Europe benzene firms on higher US values, fresh downstream supply issues raise concerns
The European benzene spot market witnessed firmer prices this week with the upward trend largely based on increasing values in the US market as well as higher crude oil prices, players said on Friday.

Europe toluene spot up on higher energy, firmer premiums and ongoing China interest
Ongoing interest for blending components and mixed aromatics from China as well as increased energy values have firmed European spot toluene prices further this week pushing premiums over the Eurobob gasoline number slightly higher, sources said on Thursday.

Import regulations between Iran, Turkey fully cancelled
Regulations requiring consulate approval of paperwork for all trade between Iran and Turkey have now been completely cancelled., according to sources on Thursday.

Raw materials, Hurricane Harvey, weigh on Akzo Q3 profit
A year-on-year fall in third-quarter net income for AkzoNobel was primarily driven by higher raw materials pricing, currency headwinds, a challenging market for some divisions and the impact of Hurricane Harvey, company CEO Thierry Vanlancker said on Wednesday.

Italian-based PET producer Mossi Ghisolfi Group file for in-court settlement
Italian-based polyethylene terephthalate (PET) producer Mossi Ghisolfi Group has filed for an in-court settlement with its creditors, the company announced on Tuesday.

Germany’s investor confidence continues to improve in October
Investor confidence in Germany continued to improve in October on strong data for industrial production and orders, the country’s ZEW research group said on Tuesday.

UK’s inflation jumps to five-year high, eurozone stable
The UK’s inflation rose to 3% in September as a depreciated sterling put pressure on imported goods, while prices in the eurozone remained stable during the month at 1.5%, official statistics showed on Tuesday.

Europe naphtha-based margins fall, LPG margins rise week on week
European ethylene cracker margins based on naphtha feedstock have fallen week on week, while margins based on liquefied petroleum gas (LPG) have risen, ICIS margin analysis showed on Monday.

Finland’s Kemira to pay €12.7m in hydrogen peroxide cartel lawsuit
Kemira has agreed to pay €12.7m in compensation and legal costs to CDC Hydrogen Peroxide SA in a lawsuit in Dortmund, Germany, relating to historical infringement of competition law, the Finnish chemical producer said on Monday.

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