OUTLOOK ’09: Economic gloom, uncertainty cloud Asia chems prospects

08 January 2009 09:06  [Source: ICIS news]

SINGAPORE (ICIS news)--The global economy's downturn that led to weakness in key downstream sectors and uncertainties in price direction plagued the Asian petrochemical markets as 2008 drew to a close. These are issues that may continue into this year as regional economies are expected to continue reeling from the sharp slowdown in exports.

ICIS news has analysed what is in store for the region’s petrochemical industry in 2009.

Here is a list of stories ICIS news published during the end of year holiday period.

Please click on the links to read the full story.

OUTLOOK’09: Asian chems fear Middle East supply pressure
SINGAPORE (ICIS news)--The outlook for Asian petrochemical producers remains grim into 2009, as pressures of dwindling global consumer demand and ample Middle East petrochemical capacities threaten to eat into their market share, market sources said.

OUTLOOK '09: Asia olefins face uncertain future
SINGAPORE (ICIS news)--The Asian olefin markets are set for a bumpy ride in 2009 as projections of muted spot pricing and oversupplied downstream markets are expected to weigh on sentiment, observers in the olefins markets said on Wednesday.

OUTLOOK’ 09: Asian styrenics to remain weak through H1 09
SINGAPORE (ICIS news)--The malaise in Asian styrenic resins demand is expected to continued through the first half of 2009, said suppliers and traders.

OUTLOOK’ 09: Asian acetic acid faces gloomy 2009 outlook
SINGAPORE (ICIS news)--New acetic acid capacities in the Middle East and China coupled with the global economic downturn have painted an overall gloomy outlook for the Asian acetic acid market, producers and buyers said.

OUTLOOK’ 09: Asian Q1 benzene ops may stay low on surplus
SINGAPORE (ICIS news)--Asia’s benzene producers could keep operating rates below capacity in the first quarter of 2009 in anticipation of weak downstream demand and net supply rising when new plants in China and the Middle East start up, producers and traders said on Tuesday.

OUTLOOK ’09: Asian SM may edge higher despite economic gloom
SINGAPORE (ICIS news)--Asia’s spot styrene monomer (SM) prices could trend upwards in the first half next year despite the gloomy economic outlook as the anticipated adverse impact was already factored into the recent price collapse, and supply is expected to remain tight on reduced regional output, Asian traders and producers said on Tuesday.

OUTLOOK ‘09: China, SE Asia PE/PP may ease in Feb
SINGAPORE (ICIS news)--Polyethylene (PE) and polypropylene (PP) prices in China and southeast Asia may soften in mid February as regional producers continue to raise operating rates despite persistent weak demand, Asian producers and traders said.

OUTLOOK ’09: Asia’s toluene, MX to remain weak up to Q3
SINGAPORE (ICIS news)— The Asian toluene and mixed xylenes markets could remain weak in the first three quarters of 2009 with added capacities in China and the global economic downturn exerting further downward pressure on demand and prices, said traders and producers on Wednesday.

OUTLOOK’ 09: Traders might exit illiquid, stable Asian PX
SINGAPORE (ICIS news)--Asian paraxylene (PX) markets could see further consolidation in the trading arena as fewer price fluctuations, increased predictability and illiquidity are expected to be common through 2009, forcing some traders to exit the markets, sources said.

OUTLOOK’ 09: Asian PTA margins could come under pressure
SINGAPORE (ICIS news)--The consolidation of the purified terephthalic acid (PTA) market has resulted in better operating profits for makers in Asia, but it remains to be seen if this situation continues into 2009 due to uncertainties surrounding new supplies in China and the global economic downturn, sources said.

OUTLOOK '09: Reduced output may prop up Asia’s VAM values
SINGAPORE (ICIS news)--Output curbs may be key to propping up Asia’s vinyl acetate monomer (VAM) values in 2009 as the demand outlook remains bearish due to the global economic downturn, Asian producers said.

OUTLOOK '09: Uncertainty clouds Asia PVC market
SINGAPORE (ICIS news)--The ongoing global economic downturn casts a pall of uncertainty over polyvinyl chloride (PVC) markets in 2009 although prices have rebounded in recent weeks, traders and producers said on Monday.

OUTLOOK ’09: Uncertain future for methanol in Asia
SINGAPORE (ICIS news)--Forecasts for methanol in 2009 were gripped by unpredictability due to wider implications from the global economic slowdown, with few market participants willing to hazard a guess given the high volatility seen in the previous year, market sources said.

OUTLOOK '09: Asian BPA sellers face challenging year
SINGAPORE (ICIS news)--The Asian bisphenol A (BPA) market will continue to be hit hard by the turmoil in the global financial markets as downstream demand from epoxy resins and polycarbonate (PC) industries are seeing little upside unless the economy picks up, market sources said on Tuesday.

OUTLOOK '09:Tough H1 expected for Asia caustic soda markets
SINGAPORE (ICIS news)--The Asia caustic soda market is expected to see tough times in the first half of 2009, with volatile economic conditions clouding the market outlook for the rest of the year, caustic soda traders and producers said on Tuesday.

OUTLOOK '09: Higher biodiesel output to depress Asia glycerine
SINGAPORE (ICIS news)--The expected increase in biodiesel production would be key in pricing refined glycerine this year, with demand expected to remain languid against the backdrop of a distressed global economy, market sources said on Tuesday.

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By: Bohan Loh
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