Europe top stories: weekly summary

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

EU, UK chems plea again for ‘disastrous’ no-deal Brexit to be avoided
UK and EU chemicals companies reiterated on Monday that a no-deal Brexit would have “disastrous consequences” for the EU-wide supply chains created in the last four decades.

Europe methanol price climbs amid US-Venezuela sanction jitters
Europe’s methanol spot prices have continued on a modest climb as simmering concerns about the political situation in methanol-producing Venezuela prompted talk of EU material heading to the US.

Germany’s LANXESS faces headwinds in key markets despite ARLANXEO sale
LANXESS has gone through a series of dramatic transformations over the last half decade improving its resilience as a business, but exposure to weak end markets is likely to weigh on the company this year after a difficult 2018.

Germany’s K+S ups 2019 earnings forecast on healthier ferts markets, Bethune ramp-up
K+S has upped its earnings estimate for 2019 to €700m-850m on the back of a “favourable” environment for fertilizers, the ramp-up of its Bethune mine in Canada and the hope the last year’s production problems will not recur,  the German muriate of potash (MOP) major said.

EU’s chems regulator proposes to restrict hazardous substances in tattoo inks
The EU is to propose new regulations restricting the use of hazardous substances in tattoo inks, the European Chemicals Agency (ECHA) said.

Increased competition from Group II base oils presents difficulties for Group I in Europe, Russia
A recent surge in competitively priced Group II base oils exports from the US has exerted pressure on Group I prices in Europe and has brought about the displacement of Russian Group I product in certain export destinations.

Indorama, Borealis sign pledge to reduce plastic waste, increase transparency
Borealis and Indorama have signed a commitment to reduce global plastic waste and apply more transparency to their plastics production figures, a report by the Ellen MacArthur Foundation said.

Europe glycerine players brace for possible tightness in summer months
European glycerine players are anticipating a possible hit to stocks of non-genetically modified (non-GMO) material in the summer months, with increased biodiesel imports expected.

Brexit-related chems stockpiling continues as producers eye UK Reach implications
Stockpiling of chemicals in the UK continues as clarity on the model for Brexit remains as elusive as ever, while producers from the rest of Europe are eyeing their portfolios in light of the potential for a UK Reach regulatory system.