Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended Friday 31 May.

Freight costs, chaos assures demand for Europe PTA, PET
As shipping complexities intensify again, gone are the talks of weak demand holding back European sellers of purified terephthalic acid (PTA) and downstream polyethylene terephthalate (PET).

Europe May melamine contract decline spells end to eight-month rally
Europe melamine May contract prices were assessed at double-digit decreases, the first drop this year.

Europe R-PET market enters stable period, but Italy remains a question mark
June price talks in Europe’s recycled polyethylene terephthalate (R-PET) markets have concluded at rollovers in the majority of cases, bringing to an end an upward trend in prices seen since December.

European PET import costs, delays still causing headaches; could support local demand in June
European polyethylene terephthalate (PET) logistical challenges surrounding imported material are still apparent which could drive more local demand in Europe.

DATA WATCH: Europe chemicals export more at beginning of 2024 but importing remains an option
Trade flows of chemicals both into and out of Europe have changed significantly this year, with the ongoing Red Sea disruptions and the subsequent lack of vessel space across different parts of the world being a key factor.