Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 21 June.

Indian phosphates buyers awaiting subsidies clarity from new government
The bullish sentiment in the phosphates world continues, as supply in the Americas remains particularly tight, and demand firming.

Europe naphtha, gasoline prices push higher despite weak fundamentals
Europe naphtha market spot quotations appear to be torn between firming upstream Brent crude values and waning demand-side fundamentals, with weakness in gasoline particularly denting sentiment.

New industrial deal needed to enable energy transition – Europe trade groups
The EU needs a powerful industrial strategy to deliver the massive expansion in renewable energy required to power energy-intensive sectors which will provide locally made raw materials, according to a coalition of regional trade groups.

Europe BDO heading into Q3 with hopes of stability rather than improvement
Although the better-than-expected demand during the first half of 2024 would typically give rise to positivity for the European butanediol (BDO) market, players are tempering their predictions to hopes of stability.

Downstream restructuring darkens Europe PX outlook despite shipping disruption uplift
Paraxylene (PX) demand in Europe is likely to be relatively firm over the summer as seasonal buying appetite couples with stronger offtakes from downstream markets impacted by delayed imports and higher freight costs.