LONDON (ICIS) – Here are some of the top ICIS Europe stories for the week ended 28 October.
K Fair ’22: European EPS players fear weak demand and energy costs
Weak demand for the rest of Q4 2022 through Q1 2023 and high energy costs remain key concerns for the European Expandable Polystyrene (EPS) players we met at the K Plastics Fair event.
K Fair ’22: Key to cost savings for European TiO2 players in challenging climates
Declining demand and deteriorating economic conditions will make cost reductions imperative for the European titanium dioxide (TiO2) market from Q4 through 2023, as discussed by K Fair players.
Energy prices may have peaked, but markets remain tough – Covestro CFO
Energy prices in the third quarter of 2022 may have had the biggest impact on Covestro, the CFO of the Germany-based producer said expected fresh gas supplies and said it hoped the government’s support would limit future pain.
BASF posts third-quarter loss in Germany, economy ‘worsening’ rapidly – CEO
BASF reported a loss of €130 million in the German domestic market in the third quarter (Q3). This was because the economic situation deteriorated rapidly against the backdrop of high production costs for chemical companies.
K Fair ’22: Spain’s ELIX ABS capacity utilization falls 25-30% below forecast due to lower demand – CEO
ELIX Polymers’ acrylonitrile-butadiene-styrene (ABS) plant in Tarragona is operating at up to 30% lower capacity than the company had anticipated at this time of year due to a sharp drop in demand, according to Spanish production. CEO said.
Insight: Europe is ready for winter without Russian gas, chemicals may avoid rationing
Europe’s chemical sector may not suffer forced cuts in natural gas consumption this winter unless very cold weather significantly boosts domestic heating demand.