Asia top stories - weekly summary

06 February 2012 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 3 February 2012

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Focus - Asia adipic acid to gain on rising benzene cost, better demand
Spot adipic acid prices in Asia are expected to rise further in near-term as major suppliers hike offers, citing high feedstock costs, as well as improving demand, industry sources said on Friday.

Focus - SBR prices in Asia up on soaring feedstock BD, NR prices
Styrene butadiene rubber (SBR) prices in Asia are poised to rise further in the first quarter because of soaring feedstock butadiene (BD) and natural rubber (NR) prices, industry sources said on Friday.

Focus - Chinese bitumen to firm further on tight supply, high demand
China’s bitumen prices are expected to rise further in the coming weeks because of tight supply and strong demand, particularly for the country’s increasing number of road projects, traders said on Friday.

Focus - Thai PTTGC Q4 profit to slump on weak petrochemical margins
Thailand’s PTT Global Chemical (PTTGC) is expected to report a sharp fall in its fourth-quarter 2011 earnings on the back of weaker-than-expected petrochemical margins and one-off expenses related to the company’s amalgamation process, analysts said on Thursday.

Asia to receive sharply lower Europe naphtha supply in March
Asia is expected to receive 110,000-150,000 tonnes of arbitrage naphtha from Europe in March, down from 420,000 tonnes slated to arrive in February, traders said on Thursday.

Focus - China sees rapid solar growth; eyes 3GW new capacities in '12
China is likely to install at least three gigawatts (3GW) of new solar power capacity this year, up from 2GW installed in 2011, as its government strives to enhance solar energy usage as part of efforts to combat stubbornly high oil prices, industry players said on Wednesday.

Focus - China eyes alternative crude sources to Iran amid sanctions
China is looking at energy resources elsewhere in the Middle East and in Latin America that can be tapped amid tightening sanctions on Iran, from which the world’s second largest energy guzzler derives about a tenth of its crude imports, industry sources said on Tuesday.

Focus - Indian polymers seen firming despite current setbacks
India’s polymers and plastics sector is expected to expand steadily in the long term, coming out from a challenging first three quarters of the 2011-2012 fiscal year because of an economic slowdown and high inflation, industry sources said on Tuesday.

Focus - Asia buyers resort to novel means to pay for Iran petchems
Some Asian traders are using creative methods to obtain Iranian petrochemical products as US and EU-led international sanctions imposed on Tehran tighten, industry sources said on Tuesday.

Nigeria base oil demand down following strikes, sectarian violence
Recent nationwide strikes in Nigeria plus sectarian violence in the north of the country have contributed to lower-than-expected demand for base oil imports, European traders said on Wednesday.

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