Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 25 January.

Europe MMA Q1, Jan contracts fall amid global weaker fundamentals
European methyl methacrylate (MMA) first-quarter and January contract negotiations are still ongoing but a wide range of decreases have been agreed so far on the back of weakening global economic fundamentals.

Global economy to slow in 2019 as Brexit, trade war uncertainties unfold – IMF
The global economy’s expansion will slow down in 2019 as downside risks like an uncertain Brexit or trade tensions unfold, the International Monetary Fund (IMF) said.

Germany’s investor confidence improves in January but still underperforming
Investor confidence in Germany rose in January but remains well below its long-term average as Europe’s largest economy continues to underperform, the country’s Zew economic research institute said.

Norway’s Equinor methanol plant restart likely to pressure prices
The restart of Europe’s largest methanol plant over the weekend has removed what some market players have seen as a stabilising factor on prices.

Downward pressure weighs on Europe, Baltic and Black Sea base oil export markets
Export values for Europe, the Baltic Sea and Black Sea all edged down on the back of softer price ideas, with players noting a lack of interest from buyers, if not resistance to higher levels.

Pre-Brexit stockpiling raises risks for chems storage
The UK chemicals industry is increasingly stockpiling reserves in anticipation of any disruption brought about by the country’s upcoming departure from the EU is increasing the risk of storage shortages, according to sources.

Eurozone industry close to stagnation, yellow vests cloud France’s outlook
Manufacturing sector growth in the eurozone slowed further in January, although expectations of future business conditions improved slightly from December, analysts at IHS Markit said.

Production issues counter low PTA demand in Europe and pessimism in Asia
Production problems in the purified terephthalic acid (PTA) chain in Europe continue to cast a shadow over the market, but weak demand and buyers’ short-term pessimistic outlook in dominant Asia is subduing the potential impact.