Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 14 September.

Europe toluene swings into ample supply despite turnarounds
European toluene has swung into a balanced or even long position as a cargo is due to land this week in a market suddenly much better supplied than players had thought.

SABIC mulls ‘world-scale’ petchems complex in China’s Fujian province
SABIC is mulling a “world-scale” petrochemical complex in the Chinese province of Fujian although no “definitive timelines” have been set out, the Saudi major said.

EU committee electric vehicle targets unrealistic, a seismic shift for auto makers – ACEA
Europe’s key automotive trade group attacked emissions-reductions targets voted on by the Environment Committee of the European Parliament (EP) as “totally unrealistic”, despite analyst projections of more affordable electric vehicles in coming years.

INSIGHT: Refiners, shippers face uncharted waters of low-sulphur 2020 rule
A wave is about to break over the marine world that will sweep over refiners, lubricant makers, the international shipping community and major equipment manufacturers.

Venator to close fire-hit Pori TiO2 plant on reconstruction ‘cost escalation’
Venator is to close its titanium dioxide (TiO2) plant in Pori, Finland, by 2021 due to “cost escalation and extended timeline” for its reconstruction following a fire in 2017, the US-headquartered chemical producer said.

EU considers imposing anti-dumping duties on US, Russian UAN fertilizer imports
The EU is considering imposing anti-dumping duties (ADD) on urea ammonium nitrate (UAN) fertilizer imports from Russia, Trinidad and Tobago, and the US, according to an official transcript.

Europe fuel ethanol prices inch up on Vivergo’s closure, but capped by US values
European fuel ethanol prices have risen slightly in the week after Vivergo announced its large UK plant would cease production by the end of September.

US rolls back tariffs on raft of chemicals
US President Donald Trump has approved the rollback of sanctions on numerous chemicals by signing a bill to reduce the impact of import tariffs on domestic industry.

India’s increase in MRP, rupee depreciation keep phosphates market on its toes
The phosphates market’s activity this week was concentrated in India, where the rupee’s depreciation is prompting domestic producer to increase prices.