Most of the news from Europe lately, as it impacts processors in the U.S., has been on the war in Ukraine and supplies of natural gas from Russia to Western European nations. (This week's Material Insights video includes comments from Avient Corp. executives on that topic, if you haven't watched it yet.)
But in his update on European virgin resin pricing trends, David Platt of Sustainable Plastics notes something that could affect pricing in the region, even if it hasn't made much news in the U.S.
Austrian material company OMV AG's refinery in Schwechat has been offline since early June when an outer shell on one of the columns of the crude oil distillation unit was damaged during a required test on water pressure. Because the damage is located in a lower section of the column that is difficult to access, OMV may not have the site up and running again until late in the third quarter of this year.
"It remains unclear exactly what this means for the cracker [at Schwechat], which is a key supplier of ethylene and polypropylene plants at OMV unit Borealis," David writes.
You can get more on what's happening with European prices here.