Asia top stories - weekly summary

25 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 22 July 2011.
(Please click on the link to read the full text)

Focus- China exports methanol on rare opening of arbitrage window
China has exported more than 30,000 tonnes of methanol to southeast Asia and South Korea since end-June, as sellers took advantage of a rare opening of window for arbitrage trades, market participants said on Friday.

Focus - Asia MEG prices to rise ahead of peak textile season
Asia monoethylene glycol (MEG) prices are expected to firm in the next two months because of the start-up of new downstream polyester capacities, stable supply and strong demand from the textile sector, industry sources said on Thursday.

Focus - China PVC to halt fall on better demand, firm feedstock costs
Polyvinyl chloride (PVC) prices in China are unlikely to slide further in the near term in light of firming feedstock prices and a likely pick up in demand with the onset of the production season through September, market sources said on Wednesday.

China's Dalian Petrochemical cuts operations after refinery fire
China’s Dalian Petrochemical, a subsidiary of PetroChina, is running the downstream facilities of its 10m tonne/year (200,000 bbl/day) crude distillation unit (CDU) in Dalian at reduced rates of about 60% after a fire at the unit two days ago, a company source said on Monday.

Focus- China to adjust fuel pricing scheme; full deregulation far off
China, the world’s largest oil consumer, is expected to adjust its pricing mechanism for diesel and gasoline this year, to better reflect the movement of oil prices in the international markets, market players and analysts said on Monday.

Focus - Asia ABS prices to rise as producers trim rates amid poor margins
Prices of acrylonitrile-butadiene-styrene (ABS) resins in Asia are expected to rise in the next two weeks as producers cut operating rates and tighten supply, although prices seem to have reached a plateau at the moment, market sources said on Tuesday.

Focus - Asia BD at record high; buyers to resist further price gains
Butadiene (BD) spot prices in Asia may have peaked at an all-time high of $4,300/tonne (€3,053/tonne) as downstream synthetic rubber makers vow to resist a further increase in raw material values, industry sources said on Tuesday.

Saudi's Petro Rabigh swings to SR402.3m second-quarter net loss
Petro Rabigh said on Wednesday it swung to a net loss of Saudi riyals (SR) 402.3m ($107.3m) in the second quarter of 2011 because of heavy production losses as its whole petrochemical complex was shut for maintenance.

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly