The Asian and European butanediol (BDO) markets have faced differing availability during Q1, with Europe dealing with tightness because of the difficulty in importing volumes, while Asia supply remains more than sufficient and has seen little impact from the Red Sea disruptions. But the key issue of subdued demand, which impacted global markets in 2023, is set to persist in the short term. Europe tightness due to challenges in importing from Asia, hurting initial plans China and Asia supply adeq...
Mar 08, 2024•11 min•Ep. 1142
High costs and cheap imports from Asia may force the owners of integrated petrochemical sites in Europe - such as Indorama Ventures and BASF - to import feedstocks and cease local upstream production. - Indorama suffers low operating rates, poor profitability - Six upstream sites under review for closure - More feedstocks in Asia as refineries start up, less in Europe - Moves may not be enough to save downstream plants - Massive capacity growth in China means more trade barriers needed - Chemica...
Mar 05, 2024•21 min•Ep. 1141
Market activity for technical grade urea (TGU) appears to be gathering pace in several regions like Europe and Asia, backed by growing demand for AdBlue. ICIS is planning to capture the excitement in this space with the launch of three new price quotes on 14 March, which include FOB Russia, FOB Middle East and CFR India. Nitrates and TGU markets editor Manuja Pandey talks to senior editor Sylvia Traganida about the latest developments in the market.
Mar 05, 2024•9 min•Ep. 1140
LONDON (ICIS)--The global PE/PP market has been rocked by the disruption to Red Sea shipping, which has sent prices soaring, following sustained periods of weakness. The question now is, how long can this continue? With early March European offers out and some suppliers approaching the market bullishly, ICIS experts sit down to discuss all the potential influences in the coming month. Senior editor/ manager Vicky Ellis, Senior editor/manager Samantha Wright and Senior Editor Ben Lake gather to d...
Mar 04, 2024•19 min•Ep. 1139
On 27 February, OQ Chemicals ' oxo-alcohols unit in Oberhausen, Germany went offline amid technical issues, further tightening supply in Europe. Asia is also likely to see tight supply as the market moves into the second quarter, as Japan embarks on its turnaround season. Asia, Europe to see tight oxo-alcohols supply into Q2 Asian demand likely stable quarter on quarter, demand from downstream plasticisers weak Asia-Europe arbitrage window could open on tighter European supply In this podcast, I...
Mar 01, 2024•9 min•Ep. 1138
LONDON (ICIS)--European oxo-alcohols and most of its derivative markets have largely been defined by supply constraints, on the back of upstream challenges and the ongoing disruptions in the Suez Canal. Underlying demand is soft and stable amid the fragile macroeconomic climate. Market players are hoping for some uptick when the spring season commences. Butyl acetate reporter Marion Boakye speaks to oxo-alcohols reporter Nicole Simpson, glycol ethers reporter Cameron Birch and acrylate esters re...
Feb 29, 2024•11 min•Ep. 1137
Leaders are now more willing to stand up and demand positive action by the EU to save the region’s industrial value chains. - Antwerp Declaration shows chemicals leaders now willing to be visible - CEOs have responsibility to help drive Europe transformation - Regulators, politicians can deliver better infrastructure, permitting - European Parliament elections 6-9 June may elect more business-friendly MEPs - Fundamental shift in Europe demand patterns - BASF expected to reinvent its Ludwigshafen...
Feb 27, 2024•24 min•Ep. 1136
European editors Eashani Chavda and Nick Cleeve discuss the latest trends for methanol, acetic acid and purified terephthalic acid (PTA) in this ICIS Podcast. Disrupted Asian imports are causing supply shortages for PTA, leading to some increased domestic demand for methanol and acetic acid ahead of the peak demand season in Q2.
Feb 23, 2024•8 min•Ep. 1135
The overall picture for European polyvinyl chloride (PVC) is bleak; the market is likely to be impacted by oversupply in 2024, and demand will still be low in Europe for H1. However, there may be domestic sales opportunities which take advantage of delays to import arrivals from Asia. ICIS Senior Editor Chris Barker interviews ICIS Analyst Valentina Cherubin on the outlook for 2024.
Feb 21, 2024•6 min•Ep. 1134
Chemicals and liquefied natural gas (LNG) players are switching from global to a more regional approach to their markets as logistics challenges caused by the Red Sea attacks and Panama Canal drought persist. - Red Sea disruption may not end until 2025 - Some US chemical prices rising as Panama Canal restrictions continue - Poor downstream demand caps increases - Europe isocyanates and polyols react to logistics pressures - Margins rising for European producers as purchasers switch to local sour...
Feb 21, 2024•34 min•Ep. 1133
SINGAPORE (ICIS)--Asia's ethylene (C2) market saw supply tighten amid fewer volumes from the US in Q1 as a direct result of congestion at the Panama Canal. Over in the Asian propylene (C3) markets, while arbitrage flows remain curtailed by high freight rates, some emerging interest has also been gleaned in the market as regards moving Asian material westwards. In this podcast, ICIS market editors Josh Quah and Julia Tan discuss Asia's olefins flows, with a forward view on the March market. C2 se...
Feb 21, 2024•6 min•Ep. 1132
As the phosphoric acid settlement for Q1 is announced and India is eagerly awaiting further details on government subsidies, phosphates markets editor Chris Vlachopoulos and ammonia senior editor Sylvia Traganida discuss developments in their respective markets. They talk about demand, recent developments, and provide insight on the possible ways forward for both markets.
Feb 19, 2024•8 min•Ep. 1131
Senior Editor, Recycling in the US, Emily Friedman and VP for the PET chain Antulio Borneo discuss their takeaways from The Packaging Conference held in Austin, Texas from the 12-14 February. Among the key topics, presenters and attendees continued to discuss innovation in sustainability, advocacy within legislation and market drivers that will steer the US recycling markets in 2024.
Feb 16, 2024•9 min•Ep. 1130
SINGAPORE (ICIS)--Asia recycled polymers markets were sluggish for the most part, in 2023. In early 2024 too, challenges that dim short-term outlook persist. Some legislations surrounding recycling were also put in place in the region over the last few years, but the obstacles that limit the growth of this sector still remain. In this chemical podcast, ICIS Senior editor Arianne Perez and analysts Joshua Tan and Chua Xin Nee share their insights on the topic....
Feb 15, 2024•14 min•Ep. 1129
As EU and US leaders seek to protect regional industries from global oversupply, more trade barriers may protect chemical producers in Europe and the US. - Expect more trade wars, more regional isolation - Chemical industries may be protected from global competition - Companies should bid for EU funding for investments - UBS analysts forecast 4-5% growth in European chemicals volumes this year - Claim end in sight for longest destocking period in 30 years - Europe purchasing manager indices (PMI...
Feb 13, 2024•18 min•Ep. 1128
Senior Editor, Recycling, Matt Tudball and Senior Analyst, Plastics Recycling, Helen McGeough discuss the key takeaways from the recent Petcore Europe Annual Conference held in Brussels from 7-8th February. Highlights include: Legislation updates from the European Commission and European Parliament Growth in Petcore Working Groups to tackle wider PET market issues Textiles recycling Depolymerisation technology Tray to tray market developments...
Feb 12, 2024•14 min•Ep. 1127
Red Sea shipping issues have been the hot topic in Q1 with import delays opening up domestic demand opportunities and leading to a firmer price sentiment in some markets. There have been some increase in buying in January, but underlying demand is yet to recover in a shaky macro-economic climate. Europe ICIS editors Jane Gibson (acetone and phenol), Heidi Finch (bisphenol A and epoxy resins), Mathew Jolin-Beech (methyl methacrylate) and Meeta Ramnani (polycarbonate) discuss the impact of rising ...
Feb 09, 2024•15 min•Ep. 1126
Europe polyols editor Zubair Adam and Asia editor Shannen Ng take an in-depth look at the current trade flows between Europe and Asia and discuss the influences on future trade.
Feb 06, 2024•5 min•Ep. 1125
Saudi Arabian petrochemical producers face a steep increase in production costs as the state-controlled price of ethane rises towards free market levels. - Saudi Arabia has increased ethane price from $1.50/MMBtu to $2.50/MMBtu - Pressure on producers as ethylene production costs rise from $75/tonne to $130/tonne - Middle East cannot continue to rely on China as a key chemical export market - As energy transition accelerates, chemicals will lose access to fossil-based feedstocks - High cost of e...
Feb 06, 2024•21 min•Ep. 1124
After a prolonged stagnant period, the Europe and US epoxy resins markets are showing some signs of a firmer sentiment, due to Red Sea shipping effects and the need to restore profitability, although there has been no fundamental recovery in demand so far. The Red Sea shipping disruptions and spiking freight costs for Asian export cargoes have led to more domestic demand opportunities in Europe and the US, particularly in Europe which is more exposed to the structural flow of Asian imports. This...
Feb 05, 2024•9 min•Ep. 1123
SINGAPORE (ICIS)—Governments in Asia-Pacific have implemented several legislations such as Extended Producer Responsibility and Mandatory Post Consumer Recycled Polymer Content in packing as they work towards their sustainability goals. Waste management is crucial in order to achieve plastic circularity. Countries such as Korea with a stronger waste management infrastructure have a higher success rate than countries such as Indonesia, which has a more fragmented waste management infrastructure. ...
Feb 05, 2024•8 min•Ep. 1122
SINGAPORE (ICIS)—China’s LPG demand is projected to hit 80m tonnes this year, a lower growth rate of 7% compared with last year’s 14%, as the sector grapples with a twin-fold challenge of logistics risks and weak downstream demand. China’s LPG demand growth is mainly driven by feedstock demand from the propane dehydrogenation (PDH) units, which are projected to account for around 30% of China’s propylene production this year. In this podcast, ICIS Analyst Lillian Ren shares insights on the chall...
Feb 02, 2024•4 min•Ep. 1121
SINGAPORE (ICIS)--Asian petrochemicals were mixed in the weeks ahead of the Lunar New Year holidays, with some seeing an uptrend due to cost pressures. However, there is still concern about demand post the holiday. In this chemical podcast, ICIS Deputy News Editor Pearl Bantillo shares an overview of how Asian petrochemical markets have performed pre-holiday.
Jan 31, 2024•4 min•Ep. 1120
SINGAPORE (ICIS)--Asia's benzene market trended upwards on account of crude gains as well some pre-Lunar New Year restocking. Downstream SM producers however, struggled with higher costs and low demand from PS, EPS and ABS. In this chemical podcast, ICIS editors Angeline Soh and Luffy Wu discuss recent market conditions with an outlook ahead in Asia. Benzene Feb cargo sold out from pre-LNY stocking up, US demand as plants shut from winter storm Demand for March cargoes buoyed; buyers beyond Asia...
Jan 31, 2024•5 min•Ep. 1119
As more shipping is diverted away from the Suez Canal, supply chains in the UK are being stretched as shipping capacity is reduced and container rates rise. - UK distributors under pressure as Red Sea disruption increases shipping costs, disruption - Shortages of capacity as vessels at sea for longer - Container rates have doubled, shipping companies unwilling to guarantee space - Demand spikes as supply chains build safety stocks - High stock levels have mitigated impact of logistics disruption...
Jan 30, 2024•35 min•Ep. 1118
SINGAPORE (ICIS)--Asia's ethylene market saw tighter supply from deep-sea origins, and some restocking in January, before the Lunar New Year holiday. Downstream PVC demand was steady, but buyers in some regions like India resisted higher February offers. In this chemical podcast, ICIS editors Damini Dabholkar, Jonathan Chou and Josh Quah discuss recent market conditions with an outlook ahead in Asia. Ethylene deep-sea supply curtailed, pre-Lunar New Year restocking takes place NE Asia PVC supply...
Jan 27, 2024•7 min•Ep. 1117
Artificial intelligence (AI) can help chemical companies understand the impact of logistics events such as the Panama and Suez canal crises, as well as improve forecasting of demand and pricing. - AI can help predict impact of events on demand patterns, allocate supply to different locations - Univar Solutions uses AI to correlate weather patterns, customer order patterns to help forecast demand - ICIS uses AI to inform scenarios for price and demand forecasting - AI allows distribution customer...
Jan 24, 2024•37 min•Ep. 1116
LONDON (ICIS)--European oxo-alcohols and derivatives markets have been slow to start up in the new year as familiar factors suppress consumption. However, shipping issues connected to security concerns in the Red Sea are causing disruption and concern for certain market participants. Oxo-alcohols market reporter Nicole Simpson speaks to butyl acetate reporter Marion Boakye, acrylate esters reporter Mathew Jolin Beech and glycol ethers reporter Cameron Birch about conditions down the oxo-alcohols...
Jan 23, 2024•7 min•Ep. 1115
ICIS analysts Joanne Wang, Sijia Li and Izham Ahmad discuss outlook for Asia’s polyethylene (PE) market in 2024.
Jan 23, 2024•6 min•Ep. 1114
Nitrogen prices are mixed at the start of the year, with urea seeing an unexpected recovery while ammonia levels are declining. ICIS senior editors Deepika Thapliyal, Mark Milam and Sylvia Traganida discuss the reasons behind the current trend and what to expect in the coming months. • Urea prices up but buyers still cautious • Early spring demand may boost US demand • Ammonia market awaits Tampa settlement
Jan 22, 2024•11 min•Ep. 1113
