Dow to shut Belgian polyols plant by March 2026

Spanish Market: Petrochemicals
02/10/25

US chemical firm Dow will shut its 94,000 t/yr polyether polyols production site at Tertre, Belgium, by the end of March next year, it confirmed to Argus today.

The move is part of a broader review of the company's European assets aimed at addressing "the structural challenges of high costs, driven by high energy costs and a burdensome regulatory environment", Dow said.

The site is likely to be dismantled after closure, workers' union FGTB said. The plant has three production lines, but two were already idled as part of a restructuring that began in 2023, according to the union. The closure will affect 37 roles and eight contractor positions.

Dow said it does not expect any impact to customers and will continue delivering the same product mix. The firm has 530,000 t/yr of polyether polyols capacity at its Terneuzen site in the Netherlands and a further 60,000 t/yr in Tarragona, Spain.

Europe's polyether polyols market has been pressured by weak demand and excess production capacity, compounded by rising imports, mainly from Asia.

Dow said a loss of competitiveness in the face of increased imports was a key factor in the decision to close the Tertre site.

Imports of all polyethers, including polyether polyols, into the EU averaged 286,000 t/yr in 2020–24, with record deliveries of 323,000t last year. Imports in January–July this year were 6.3pc higher than the same period a year earlier. China is the leading supplier, followed by South Korea and Saudi Arabia.

Demand from key polyether polyol sectors — including automotive, appliances and soft furnishings — has been hit by limited consumer confidence and lower spending on durable goods. Demand from the construction sector has also faltered on economic uncertainty and a weak investment environment.

Argus assessed the September contract price for flexible slabstock polyether polyols at €1,030–1,100/t, down from a midpoint of €1,225/t in January and 24pc lower than the September 2024 price. Early indications for October suggest continued softening in the polyols market.

By Laura Tovey-Fall

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14/11/25

Unipar sees lower 3Q profit on sluggish petchem cycle

Sao Paulo, 14 November (Argus) — Brazilian company Unipar Carbocloro, South America's largest producer of polyvinyl chloride (PVC), reported a net profit of R107mn ($20.2mn) in the third quarter of 2025, 9pc below the same period last year. The results were primarily driven by a downturn in the petrochemical cycle and a persistent imbalance between global supply and demand. Unipar's average plant utilization rate remained at 80pc in Brazil and reached 67pc in Argentina, both impacted by temporary reductions in operations due to weak demand at certain times during the quarter. Chief executive Rodrigo Cannaval noted mounting pressure on Brazil's domestic PVC market from imports, particularly from Colombia and Egypt, alongside weak demand in Argentina amid President Javier Milei's macroeconomic reforms. International caustic soda and PVC prices decreased 11pc and 5pc, respectively, compared to the second quarter, curtailing Unipar's adjusted recurring earnings before interest, taxes, depreciation and amortization (EBITDA) of R266mn, which also suffered negative effects from currency appreciation in Brazil, even though the company's cash flow is mostly tied to the US dollar. Annually, adjusted recurring EBITDA increased 14pc, from R233mn, mostly due to higher volumes of caustic soda and chlorinated products, offsetting 15pc lower sales of PVC. PVC accounted for 40pc of the company's revenue in the quarter, followed by caustic soda (39pc) and chlorinated products (21pc). Additionally, Unipar's Capex should be significantly smaller next year, Cannaval said during the company's third-quarter earnings conference call, given that the modernization of the Cubatao plant is nearing completion. It is the company's most relevant ongoing project, he said, and affected both gross and net debt in the quarter. The Cubatao plant has production capacity of 355,000 metric tonnes (t)/yr of chlorine and 400,000 t/yr of caustic soda. Unipar introduced new PVC pricing after Brazil increased antidumping duties on US imports to 43.7pc from 8.2pc. But Cannaval said PVC demand in Brazil continues to lag amid elevated interest rates. The petrochemical firm posted net revenue of R1.2bn, 8pc below the same quarter the previous year. Unipar's net debt hit R1.5bn, 275pc above R459mn reported a year ago. By Isabela Mendes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Italian recyclers stop collecting bales from sorters

14/11/25

Italian recyclers stop collecting bales from sorters

London, 14 November (Argus) — A number of Italian recyclers in the Assorimap industry association have stopped collecting plastic waste from sorting centres, pending "urgent measures" to save the country's recycling sector, which it said has suffered an 87pc reduction in operating profits since 2021. Assorimap said this week that the Italian recycling industry is suffering from high energy costs compared with other parts of Europe, and "unsustainable competition from non-EU imports of virgin and recycled plastic at rock-bottom prices". It said that its members would shut down recycling plants in response to the crisis. The association is seeking measures including bringing forward mandatory recycled content in plastic packaging to 2027 — from 2030, as laid out under the EU's Packaging and Packaging Waste Regulation (PPWR) — as well as recognition of carbon credits for secondary raw material suppliers and increased control on the traceability of imports. An Italian recycler told Argus today that it had stopped collecting bales from sorting centres, and that it expected that others had begun to do the same, although some pickups may continue, particularly where transport had already been arranged. A source from a sorting centre confirmed that several large customers that had bought PET and HDPE bales from their company through the Italian auction system for November were declining to collect them. They said that, unless the situation is resolved, they would soon fill up their capacity for bale stocks and be compelled to stop taking in mixed plastic waste at the facility. Plastic waste from the Italian separate collection system is sorted into individual fractions, which are then sold to recyclers via a monthly auction. The Italian government recently announced that it would delay the implementation of a €450/t ($523/t) tax on single-use plastics — which would include exemptions for recycled plastics — to 1 January 2027, from 1 July 2026. Implementation of the tax has now been delayed eight times since an initial decree in 2020. By Will Collins Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU conditionally clears Adnoc-Covestro deal under FSR

14/11/25

EU conditionally clears Adnoc-Covestro deal under FSR

London, 14 November (Argus) — The European Commission has given conditional approval to plans by Abu Dhabi's state-owned Adnoc to acquire German chemicals group Covestro under the EU's foreign subsidies regulation (FSR). Adnoc, to address the commission's competition concerns relating to state subsidies, offered to adapt its articles of association to make sure they align with UAE insolvency law, thereby removing unlimited guarantee from the state. It will also share Covestro's sustainability patents with certain market participants. "Clear, predefined access to these patents will enable others to innovate and advance research in an area that is critical for Europe's future," commission executive vice president Teresa Ribera said. The commission said these commitments "will balance out the negative effects" of the €12bn ($13.9bn) Adnoc-Covestro deal in the EU market. During an in-depth investigation, the commission found that "Adnoc and Covestro received foreign subsidies from the UAE that are liable to distort the EU internal market." These subsidies include an unlimited state guarantee to Adnoc, as well as a committed capital increase from Adnoc into Covestro. "As a result, the merged entity could have engaged in more aggressive investment strategies than absent the subsidies, to the detriment of other market participants and competitive conditions in the internal market," the commission said. The commission gave the green light to the acquisition in May, but decided to launch an in-depth probe in July under the FSR because of competition concerns relating to state subsidies. The FSR began in July 2023 and allows the commission to address distortion caused by foreign subsidies as a way of ensuring a laying playing field for all companies in the EU market. By Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU imposes provisional ADD on China adipic acid imports

14/11/25

EU imposes provisional ADD on China adipic acid imports

London, 14 November (Argus) — The European Commission has imposed provisional anti-dumping duties as high as 46.8pc on adipic acid imports from China. The decision followed an investigation launched in March after complaints from European producers Lanxess and Radici Chimica. The probe found the European industry "suffered material injury caused by the dumped imports" from China, the commission said. Chongqing Huafon Chemical and Tangshan Zhonghao Chemical face duties of 28.6pc and 46.8pc, respectively. "Other co-operating companies" — including China Pingmei Shenma Energy Chemical Group, Hengli Petrochemical (Dalian) and Shandong Hualu-Hengsheng Chemical — will pay duties of 32pc, the commission said. All other adipic acid imports from China will be charged at 46.8pc. Chinese producers "adopted an extremely aggressive pricing policy" that heavily undercut European prices and "eroded the ability of [domestic producers] to set prices that would cover its cost of production," the commission said. China-origin adipic acid imports into the EU rose by 33pc during the July 2023-June 2024 investigation period, the commission said. Their share of the domestic market climbed to 35.6pc from 19.4pc in 2021, while the European industry's share fell to 58.3pc from 77.2pc. Germany's BASF said in August it will end adipic acid production at its Ludwigshafen site this year. Adipic acid, which falls under CN code 29171200, is used in a wide range of applications, mainly the production of nylon 6,6, adhesives, sealants, plasticisers and polyurethanes. By Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

India revokes BIS quality controls across chemicals

13/11/25

India revokes BIS quality controls across chemicals

Singapore, 13 November (Argus) — India's central government has cancelled Bureau of Indian Standard (BIS) quality controls across various petrochemicals, according a notice in the Gazette of India published on 12 November. The list of petrochemicals include terephthalic acid, ethylene glycol (EG), 100pc polyester spun, grey and white yarn, polyester industrial yarn (IDY), polyester staple fibres (PSF), polyester continuous filament fully drawn yarn, polyester partially oriented yarn, polyethylene (PE) grades for moulding and extrusion, acrylonitrile butadiene styrene (ABS), polypropylene (PP) grades for moulding and extrusion, polyvinyl chloride (PVC) homopolymers, ethylene vinyl acetate (EVA) copolymers, polyurethanes and polycarbonates. Return of Chinese ABS imports on the cards The removal of BIS controls would likely have minimal short-term impact on the Indian ABS market, but could open the door to more frequent imports from China in the coming years, market sources said. Northeast Asian-origin ABS historically makes up a large proportion of India's imports, with South Korea and Taiwan making up approximately 84pc of India's total ABS imports in 2020-24, according to Global Trade Tracker (GTT) data. The removal of BIS quality controls would allow Chinese ABS — which is typically more cost-competitive compared to other Asian exports — to enter the Indian market, but differing product specifications between Chinese and northeast Asian ABS could prove to be a short-term stumbling block because converters will likely need to go through a period of testing phases before they can import large volumes of Chinese ABS, market sources said. Limited impact on PET chain The removal of BIS quality controls has eliminated the primary administrative barrier for Chinese PTA, MEG, and PET fibre exports to India, but the impact of this development on the Chinese PET industry remains uncertain. India's newly commissioned PET units are limited, and its existing capacity can hardly generate significant incremental demand for PTA and MEG raw materials. Meanwhile, Indian producer Gail's 1.25 mn t/yr PTA unit is likely to commence trial runs in early 2026. The project is expected to fill India's domestic PTA supply gap, further reducing import dependency. The potential growth area now lies in India's polyester yarn (PET yarn) sector. India accounted for 48pc of China's total textile machinery exports in the first three quarters of 2025, according to customs data. This indicates that India's textile industry is undergoing capacity expansion, potentially filling the gap left by declining textile exports from Vietnam. But there has yet to be a surge in concentrated orders from India in the Chinese polyester market. The policy dividend and industrial demand transmission currently face a time lag, and the concrete effects have yet to be seen. PVC participants remain on the sidelines The removal of BIS quality controls on PVC is also spurring expectations of further supply and price pressure in the coming years, but such effects may not come to pass because India's import dependency is set to ease on the back of the start up of new Indian PVC capacities over the same period. There are 40 PVC plants outside of India that received BIS certification as of today, but Chinese suppliers, who contributed around 40pc of total PVC imports into India in 2024 and around 49pc in January-August 2025, had yet to receive BIS certification. The short-term impact from BIS cancellations is likely to remain minimal, given the ongoing presence of more competitive Chinese PVC cargoes in India and the already-present price disparity between China and other PVC exporters, but market participants remain wary of ongoing anti-dumping investigations on a number of countries which remain in play in India. BIS quality controls on ethylene dichloride (EDC) and vinyl chloride monomer (VCM) were not rescinded as part of the notice, with imports for both remaining, and likely to remain, key feedstock components for the production of PVC in India. Chinese PP, HDPE export growth remains likely The removal of BIS quality controls on PP is likely to encourage additional Chinese exports into India in the long-term, while simultaneously boosting high-density PE (HDPE) export growth from China. Some exceptions to BIS quality controls were already communicated PE grades, including some low-density PE (LDPE) grades, linear low-density PE (LLDPE) grades and certain specialty HDPE grades. Among them, LLDPE butene exemptions were withdrawn in June. Indian PP capacity grew at a rate of 2.6pc over the past five years, falling behind the country's GDP growth rate. As a result, Indian PP imports did not fall sharply, holding steady at around 1.5mn t/yr. The UAE, Singapore and Saudi Arabia remain the top three suppliers. BIS quality controls on PP were postponed four times since 2024, leading to an increase in Chinese PP imports from 62,000t in 2023 to around 160,000t so far in 2025. Chinese PP sellers, who stood as the fourth-largest PP supplier into India, had yet to receive BIS approval. The removal of BIS quality controls could encourage further Chinese imports into India in the long term, but some market participants remain cautious over upcoming Indian PP capacities, which are expected to increase the country's supply by 5mn t/yr in the coming five years and support the potential for India to become self-sufficient. On HDPE, Indian imports dropped from 2mn t in 2023 to 1.2mn t in 2024, with only 460,000t in the first half of 2025. Chinese PE sellers were also yet to receive BIS approval. Chinese HDPE exports to India dropped from 58,000t in 2023 to 13,000t in 2024, but the recent removal of BIS quality controls is likely to stimulate further HDPE shipments to India. List of cancelled BIS notifications Chemical BIS notification initial date Terephthalic acid 28-Dec-21 Ethylene glycol (EG) 28-Dec-21 100pc polyester spun, grey and white yarn 17-Jul-23 Polyester industrial yarn (IDY) 6-Apr-22 Polyester staple fibres (PSF) 6-Apr-22 Polyester continuous filament fully drawn yarn 17-Jul-23 Polyester partially oriented yarn 17-Jul-23 Polyethylene (PE) material for moulding and extrusion 6-Apr-22 Acrylonitrile butadiene styrene (ABS) 22-Sep-21 Polypropylene (PP) material for moulding and extrusion 27-Feb-24 Polyvinyl chloride (PVC) homopolymers 27-Feb-24 Ethylene vinyl acetate (EVA) copolymers 6-Apr-22 Polyurethanes 22-Sep-21 Polycarbonate 22-Sep-21 - The Gazette of India Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Dow to shut Belgian polyols plant by March 2026

Related news posts

Unipar sees lower 3Q profit on sluggish petchem cycle

Unipar sees lower 3Q profit on sluggish petchem cycle

Italian recyclers stop collecting bales from sorters

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EU conditionally clears Adnoc-Covestro deal under FSR

EU conditionally clears Adnoc-Covestro deal under FSR

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India revokes BIS quality controls across chemicals

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