Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 8 December.

Eurozone October chemical producer prices increase 4.1% year on year
Chemical producer prices in the eurozone and the EU rose 4.1% and 4.5% respectively year on year in October, the European statistical agency Eurostat said.

Germany’s Evonik, US Dow end acrylic acids joint venture
Evonik and US chemical major Dow Chemical have terminated their 50:50 joint venture for production of acrylic acid (AA), the German chemical producer said.

Impact of EVs a distant thought, crude oil oversupply to remain in H1 2018 – IEA analyst
The impact of electric vehicles (EVs) on crude oil prices in the next five years will be almost negligible, according to a crude analyst at the International Energy Agency (IEA).

As the EU powers ahead on free trade, chems should stay alert on regulatory changes
The European petrochemical sector may be subject to important regulatory changes in the coming year, which may only surface once the Brexit dust has settled, but analysts and legal experts have pinpointed other potential developments as important for the industry as well.

Belgium’s Aliphos aims to ‘take back’ prime position on DCP market with €75m plant – exec
Aliphos is aiming to “take back” its past market position in the European di-calcium phosphate (DCP) market with the start-up of its new €75m plant in Dunkirk, France, according to the head of investor relations at the Belgium-headquartered producer.

Permanence within EU chemicals agency, REACH key for UK industry – Labour MP
It will be vital for the UK’s chemical industry to remain within the European Chemicals Agency (ECHA) after the country leaves the EU in order to keep regulatory convergence intact, according to a member of parliament (MP) from the opposition Labour party.

Muntajat to exclusively distribute Qatar’s sulphur from 1 January
Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) will exclusively market, sell and distribute Qatar’s 2.3m tonnes/year of sulphur from 1 January, the company said.

European plasticizer players unfazed by Oxea’s new DOTP plant announcement
Germany’s Oxea announcement regarding new capacity of plasticizer dioctyl terephthalate (DOTP) was not a big surprise for market player, sources said.

UK industry, environment to benefit from shale gas extraction – Labour MP
The UK needs to use its shale gas reserves in order to increase security of supply, help transition to a greener economy and increase the workforce in the manufacturing sector, according to a member of parliament (MP) from the opposition Labour party.

Europe toluene spot hovers around the high $600s/tonne, demand to improve in 2018
The continuation of high crude oil values and subsequent firm Eurobob gasoline levels has kept European spot toluene prices at the high $600s/tonne this week, although the market has slowed down ahead of the Christmas break, players said.