Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 15 June.

Europe etac prices rise sharply on feedstocks, tightening supply
European ethyl acetate (etac) spot prices have risen sharply on the back of higher feedstock costs and tighter supply, according to an ICIS assessment.

German investor outlook slumps to six-year low on weaker demand, trade tensions and Italy
German investor confidence weakened in June as sluggish economic demand and fears over the new Italian government exacerbated global trade tensions to drive business outlook to its lowest ebb in nearly six years, research group ZEW said.

Russia’s EuroChem strengthens potash prospects with deal in Eritrea
EuroChem has signed a take-or-pay offtake agreement with Australia’s start-up Danakali for volumes from the latter’s Colluli sulphate of potash (SOP) project in Eritrea, the Russian fertilizers major said.

Disconnect with feedstock allows European PET to be sold forward
The disconnect between raw material and current, high polyethylene terephthalate (PET) spot prices is so big in Europe that domestic producers are prepared to sell forward without knowing production costs, a reseller said.

Europe PET drama subsides but could still sway 2019 contract negotiations
Polyethylene terephthalate (PET) in Europe has been in such disarray that recent events could impact discussions concerning 2019 contract negotiations, even at this early stage.

Bullish mood as ferts industry heads to IFA
Bustling Berlin forms the backdrop for this year’s annual conference of the International Fertilizer Association (IFA), with thousands of delegates set to descend on the German capital for the 18-20 June event.