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In the Spotlight
VERSALIS
Parent company Eni restructures again / Petrochemicals to be reorganised to ‘bio'
By PIE staffThe large-scale reorganisation of state-controlled Italian energy group Eni is – once again – affecting the petrochemicals arm Versalis. Its transformation away from standard polymers and towards higher-value specialities has been underway for several years. However, the success of this endeavour has so far been limited, partly due to resistance from trade unions. Versalis CEO Adriano Alfani, who was brought in from Dow in 2021, and his predecessor Daniele Ferrari, had already tried their... (18.09.2024)
EUROPEAN CHEMICAL INDUSTRY
Output rises in H1 2024 / Demand, run rates remain depressed / Many downstream industries still in decline / Uncertain outlook persists
By Elaine BurridgeChemicals production in the EU has continued to show a steady but small rise this year, according to the latest report by the European Chemical Industry Council. The trade body said production in the EU27 during April-June 2024 has risen for the fourth consecutive quarter, registering... (06:00)
RUSSIA
Several industries face turbulence over isocyanate shortage / Trade with China sustains growing sanction pressure
By PIE correspondentOver 20 Russian companies filed a letter to the Russian Industry and Trade Ministry emphasising the urgent need to tackle the shortage of polymethylene phenyl isocyanates, commonly known as polymeric MDI. If left unchecked, this shortage could wreak havoc on several industries. Local... (17.09.2024)
PETROCHEMICAL MARKETS
Polyethylene, C2/C3: Fire at Versalis cracker in Italy / Impact on PE, PP unknown
By PIE staffIn the early hours of 14 September, a fire broke out at a domestic Versalis cracker in Brindisi, reportedly at the number 1 oven. According to local media, the plant fire brigade worked with regional emergency personnel for five hours to extinguish the flames. No injuries were reported.... (16.09.2024)
PFAS
German Chancellor Olaf Scholz: “We won't accept an undifferentiated blanket ban” / Speech at the VCI summit in Berlin
In his speech at the Chemistry & Pharma Summit 2024 organised by Germany’s chemical industry association VCI, German Chancellor Olaf Scholz said he rejects an “undifferentiated blanket ban on this entire group of chemical substances”. Instead, the federal government is working to achieve a “practicable... (16.09.2024)
EU POLICY
Chemicals and plastics producers hail Draghi report / EU should increase investments by EUR 800 bn “to fund radical and rapid reform”
By Dede WilliamsEuropean chemicals producers, who are usually prone to complaining about a political deck stacked against them, are euphoric over an anticipated brighter future for their business – thanks to a new wind from Brussels they hope will blow in their direction. “Professor Draghi has heard our... (16.09.2024)
LOGISTICS
US port strikes make East-West passage more expensive / HMM plans to invest almost EUR 16 bn in cargo capacity expansion
By PIE staffFor weeks now, freight rates for shipping from Asia to Europe have gone only in one direction – downwards. Prices have now fallen to such a low level that it is once again worthwhile for processors to import large quantities of material from the East. For instance, the PIE Price Team reports... (13.09.2024)
Plastic Fantastic
Grizzly solution to grisly pollution
By Andru ShivelyWhat wood you do to stop plastics going to waste? In the northernmost US state of Alaska, former fisherman Patrick Simpson and his company Alaska Plastic Recovery have ... (13.09.2024)
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Latest News
ORLEN
LoI singed for JV with competitor Azoty / Plans for PP, PA 6, port infrastructure
18.09.2024
DOW
Chemical major adjusts guidance lower / Consolidations in Europe on the table
18.09.2024
ORIGIN MATERIALS
Launch of commercial PET cap production / ‘Game-changer' for packaging circularity
18.09.2024
PLASTIC PACKAGING GERMANY
Sales under pressure / Slump in demand takes toll / Further job cuts expected – IK business survey
18.09.2024
KEURIG
SEC fines coffee systems manufacturer for ‘inaccurate' recyclability claims / Two recyclers decline to accept used PP-based pods
18.09.2024
COVESTRO
Chemicals group to build TPU development centre in China
18.09.2024
GR3N
Swiss tech firm teams up with Schneider Electric to develop system for PET recycling
18.09.2024
POLYMER PRICES
Engineering recyclate September: Very weak demand despite price concessions / Recyclers' stocks fill up / No prospect of improvement yet
17.09.2024
PIE SPOT PRICE MONITOR
Quotations virtually unchanged / Further downtrend expected in autumn
17.09.2024
Social networks
Price Reports and Announcements
POLYMER PRICES
Engineering recyclate September: Very weak demand despite price concessions / Recyclers' stocks fill up / No prospect of improvement yet
17.09.2024
PIE SPOT PRICE MONITOR
Quotations virtually unchanged / Further downtrend expected in autumn
17.09.2024
POLYMER PRICES
Standard recyclate September: Prices remain mostly stable / Sluggish demand despite end of holidays / Little change likely in October
16.09.2024
RÖHM
Substantial price hike planned for PMMA moulding compounds
16.09.2024
POLYMER PRICES
China engineering thermoplastics August: Quotations for most grades softer due to low demand during off-season / Only ABS, PMMA up / September seen softer despite markets entering high season
13.09.2024
POLYMER PRICES
Forecast ethylene, propylene trend October: Prices set to continue lower / Stability likely in November / Discounts for Christmas?
12.09.2024
POLYMER PRICES
Standard thermoplastics trend September: Prices remain largely stable despite declining monomer costs / PE film grades see increases / Weak demand could lead to pressure in second half of the month
11.09.2024
POLYMER PRICES
China standard thermoplastics August: All prices soften / Seasonal demand expected to pick up / Prices to firm in September
10.09.2024
POLYMER PRICES
Engineering thermoplastics August: Demand akin to “dance of death” / Only E&E shows positive signs / Market players already want to put miserable year to bed
04.09.2024
POLYMER PRICES
Composites/GRP August: Minimal fall in ortho resin prices / Rollover for glass fibre / No major movements likely in September
04.09.2024
Readers' Choice
PETROCHEMICAL MARKETS
Polyethylene, C2/C3: Fire at Versalis cracker in Italy / Impact on PE, PP unknown
16.09.2024
PFAS
German Chancellor Olaf Scholz: “We won't accept an undifferentiated blanket ban” / Speech at the VCI summit in Berlin
16.09.2024
LOGISTICS
US port strikes make East-West passage more expensive / HMM plans to invest almost EUR 16 bn in cargo capacity expansion
13.09.2024
PFAS
“You can assume that our concerns will be heard” – interview with GKV president Helen Fürst on strongly worded PFAS letter to German chancellor Scholz
10.09.2024
LOGISTICS
UK plans to nationalise rail transport / ONE, SeaLead launch weekly Red Sea service
06.09.2024
LEGO
Plans to produce all bricks with sustainable, recycled materials by 2032
09.09.2024
LOGISTICS
Deutsche Bahn sells DB Schenker to Danish logistics giant DSV / Job cuts likely in medium term
13.09.2024
PETROCHEMICAL MARKETS
Covestro, LYB to reportedly start up Dutch styrene plant in October / Weak styrene market expected in September
11.09.2024
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Date of print: 19/09/2024
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