Europe top stories: weekly summary
ICIS Editorial
04-Jun-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 1 June.
German exporters’
confidence weakens on ‘difficult’ global
fundamentals
German exporters’ business confidence fell in
May, especially in the chemical-intensive
automobile sector, on the back of a “difficult
global” economic environment, the country’s
research institute Ifo said.
EU
car makers ‘concerned’ about US probe into
automobile imports
The EU’s chemical-intensive automobile industry
expressed on Monday its “concern” about a
proposed investigation in the US into imports
of vehicles and auto parts, according to trade
group the European Automobile Manufacturers’
Association (ACEA).
Poland’s Ciech idles
trade with Iran, awaits ‘if and when’ US
sanctions are re-imposed
Ciech will address the question of whether to
continue importing polyolefins from
sanction-hit Iran if and when another business
opportunity presents itself, a spokesman for
the Polish chemical producer said.
Huntsman to build
polyurethanes facilities in Dubai
Huntsman is to build a new facility for the
production of polyurethanes (PU) in Dubai, UAE,
in order to increase its presence in the Middle
East, the US chemical major said.
Europe PET players mull
over further price hikes in June on
tightness
European polyethylene terephthalate (PET)
players are considering June spot prices as
sellers announce further increases due to high
demand during a period of tightness.
Europe BDO spot supply
tightens on production constraints
European butanediol (BDO) spot volumes have
tightened due to limitations at two European
producers, sources said.
Europe acrylate ester, AA
players concerned about margins amid propylene
hike
There are concerns over margins from players in
the European acrylate ester and acrylic acid
(AA) markets following the steep increase in
June propylene, sources said.
Turkey chemical players
whipsawed by currency, politics
Turkey’s central bank on 28 May announced it
would simplify its system of interest rates,
effectively increasing the cost of borrowing,
in a move not favoured by President Recep
Tayyip Erdogan.
Spain’s stock exchange up
1.7% as Prime Minister ousted
Spain’s main bourse Ibex 35 was recovering on
Friday from losses earlier in the week as Prime
Minister Mariano Rajoy was ousted from office
after losing a confidence vote in Parliament.
Europe PE buyers stunned
by new June pricing offers
Polyethylene (PE) buyers in Europe are
beginning to get new offers for June pricing,
and several were stunned at the strength of
increases sought by suppliers.
Urea
prices up as producers commit June cargoes,
start selling for July
The global urea market is building on recent
gains, with prices increasing further as
producers have committed most of their June
cargoes and started selling material for July.
Fewer
chemicals registered than expected in EU as
Reach passes final milestone
The final deadline for the EU’s Reach chemicals
registration has passed with the total number
of dossier submissions for different materials
coming in below original forecasts, according
to the director of registration at the European
Chemicals Agency (ECHA).
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