Europe top stories: weekly summary
ICIS Editorial
10-Oct-2022
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 7 October.
EPCA
’22: Europe phenol, acetone outlook gloomy but
should improve in H2 2023
There is no doubt that the Q4 outlook for
phenol and acetone is worrying, a sentiment
confirmed by delegates at the EPCA conference
in Berlin.
EPCA
’22: Energy prices, volatility key issues for
European petrochemicals – INEOS
The combination of high energy prices and
extreme volatility is the key issue for
petrochemicals producers, INEOS Olefins &
Polymers Europe CEO, Rob Ingram, said on the
sidelines of the 2022 European Petrochemical
Association (EPCA) meeting in Berlin.
EPCA
’22: Chemicals supply chains lengthening,
security of supply increasingly important –
Vopak CEO
Chemicals supply chains are becoming
necessarily longer as consumers and producers
see markets balancing between imports and local
production, the CEO at tank storage operator
Vopak said this week.
INSIGHT: So far, chem
earnings highlight drag from Europe, Asia,
energy
A surge in profit warnings from chemical
companies has cited high energy prices as well
as weakness in Europe and Asia as the main
reasons why producers cut their guidance for
the third quarter and for the full year.
EPCA
’22: Lack of visibility prompts Europe ACN
players to prepare for the worst
The most common phrase heard from many European
acrylonitrile (ACN) buyers is no-one knows what
will happen and as such players are having to
prepare worst case scenarios to try and find a
way to survive the coming quarters.
World
Bank cuts forecasts for 2023 GDP growth,
trade
The World Bank has sharply lowered its
forecasts for global GDP and trade growth next
year, it said in an update on Wednesday.
EPCA
‘22: Europe caustic soda producers target
record-breaking price increases for
Q4
Fourth-quarter (Q4) contract negotiations for
European caustic soda are developing on the
sidelines of the EPCA, with producers
separately attempting to negotiate
record-breaking increases, according to market
sources.
EPCA
’22: Europe highest cost chemicals producing
region, shutdowns encourage imports –
ICIS
Europe is now the highest cost region for
producing many chemicals, an ICIS senior
analyst said on Monday, as energy costs in the
region have skyrocketed.
EPCA
’22: Long markets, falling margins could prompt
more Europe production cuts – EPCA
president
Weaker market conditions, narrower margins and
easing supply chain issues could open Europe up
to cheaper imports, forcing more producers to
cut operating rates, according to the president
of the European Petrochemicals Association
(EPCA).
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