BARCELONA (ICIS)--European chemical companies, especially phenol producers, are planning to stop applying energy surcharges as gas prices have fallen to pre-war levels. 1. Energy surcharges started Q4 2021 2. Charges stop applying when gas price hits €25-50/MWh 3. Gas price currently around €40/MWh 4. Europe phenol demand depressed despite lower gas prices 5. Co-product acetone tighter as phenol plants have cut rates or shut 6. Long period of recession, poor demand in prospect 7. Chemical companies can switch to recycling to capture growth.
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