Recent developments
Dutch policy signals
Policy in the Netherlands moved forward as an industry coalition of six clusters presented a bid book to the new Dutch cabinet outlining actions on grid expansion, hydrogen, electricity costs, permitting, and demand creation to keep plants competitive while decarbonizing. Security of key feedstocks was reinforced by extending salt mining activities in Heiligerlee to 2035, ensuring high‑purity salt for Delfzijl and Rotterdam and requiring studies on cavern closure and subsidence.
European asset upgrades
Asset upgrades in Europe included INEOS announcing a €250 million investment to modernize its Lavera cracker, backed by the French state, aiming at reliability, efficiency, and lower emissions amid high energy and carbon costs. Clariant and Repsol advanced the Ecoplanta project in El Morell to convert municipal waste into 240 kt/y methanol by 2029.
Demand and margins
Asian indicators remained soft: LOTTE Chemical’s Q3 2025 provisional results showed losses in Basic Chemicals despite improved utilization and stabilizing raw materials, with chlorine-based product prices firming post‑maintenance. Advanced Materials was profitable while Energy Materials stayed loss‑making, indicating persistent demand weakness across key downstreams.