Asia top stories - weekly summary

04 July 2011 01:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 1 July 2011.
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Focus - Asia PME tracks price falls in feedstock crude palm oil
Palm methyl ester (PME) spot prices in Asia fell this week, dragged down by declining values of feedstock crude palm oil (CPO), with the market weakness likely to persist in the weeks ahead, industry sources said on Friday.

Focus - China’s PE prices expected to rebound in late July
China’s polyethylene (PE) prices are expected to rebound at the end of July when discussions for shipments in August begin, industry sources said on Thursday.

Focus - Asia paraffin wax prices to decline in July-August
Asian paraffin wax prices are expected to fall in July and August in line with declining prices in China, Chinese wax producers said on Thursday.

Focus - Asia’s liquid epoxy resins prices to decline further in July
Asia’s liquid epoxy resin (LER) prices are expected to continue falling in line with the region’s weak downstream demand and declining feedstock epichlorohydrin (ECH) and bisphenol A (BPA) prices, industry sources said on Wednesday.

Focus - Asia rubber makers to cut output, shut plants on soaring BD
Synthetic rubber producers in Asia are mulling cutting output or shutting plants for maintenance in July and August, as costs of feedstock butadiene (BD) continued to spike, wiping out margins, industry sources said on Wednesday.

Focus - China DAP market weakens on exports blockage from June-Sept
Prices of di-ammonium phosphate in China started to fall, with likelihood of continued weakness throughout the third quarter, as producers will be saddled with high inventory on a regulation that effectively bans exports, market sources said on Monday.

Focus - S Korea PX-naphtha spread still strong; plants run at 100%
South Korean paraxylene (PX) producers continue to enjoy a good incentive to run facilities at full capacity, as product prices remained much higher than naphtha values despite recent sharp falls in the spread, industry sources said on Tuesday.

Interview - ICI Pakistan upbeat on country’s soda ash market
Despite the crippling energy crisis gripping Pakistan, ICI Pakistan remains upbeat about soda ash market prospects and feels there is tremendous potential to be tapped in both local and regional markets, a company executive said on Tuesday.

Middle East LLDPE film extends slump on weak China market
Spot prices of linear low density polyethylene (LLDPE) film in the Middle East continued to plunge, taking the cue from the key China market, market players said on Wednesday.

Focus - Middle East spot PP prices for July fall $140/tonne from June
Spot polypropylene (PP) prices have tumbled by around $140/tonne, an 8% fall for July cargoes in the Middle East from June, as producers in the Gulf Cooperation Council (GCC) region slashed offers after the recent price fall in the China market, industry sources said on Tuesday.

By: Staff Reporter
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