Asia top stories - weekly summary

12 March 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 9 March 2012

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Focus - Asia MMA may rise on high naphtha costs, US buyers' presence
Methyl methacrylate (MMA) prices in Asia may continue to increase on the back of higher cost of feedstock naphtha, and with US buyers trying to compete for supply in the region, market sources said on Monday.

Focus - Asia MIBK may extend gains on tight supply, firm feedstock
Spot methyl isobutyl ketone (MIBK) prices in Asia may continue to rise on the back of tight supply and stable-to-firm upstream '''acetone values, market sources said on Tuesday.

Focus - Thai PTTGC Q1 profit likely hit by shutdowns; better H2 seen
Thailand’s PTT Global Chemical is expected to take a hit on first-quarter earnings because of shutdowns at two crackers at its Map Ta Phut complex, but its financial prospects remain good for the rest of the year, analysts said on Thursday.

Focus - Asia cracker operators mull rate cuts on high naphtha prices
Asian cracker operators are considering to reduce operating rates in March as their margins have been hammered by the recent hike in feedstock naphtha prices, market sources said on Thursday.

Focus - East China bitumen supply tightens in March on low production
Bitumen supply in east China is expected to remain tight and prices are likely to edge higher this month on the back of low production and increasing demand from blenders, industry sources said on Wednesday.

Focus - Asia SR makers hold out for lower BD prices to regain margins
Synthetic rubber (SR) makers in Asia are holding out for further declines in '''butadiene (BD) values in the hope of regaining margins, placing bids for their main feedstock for production at about $100/tonne (€76/tonne) lower than sellers’ price ideas this week, market sources said on Wednesday.

Focus - East China xylene prices to rise in March on tight supply
The prices of xylene in east China are expected to increase in March because of rising toluene prices and tight supply, traders in the region said on Tuesday.

Focus - China SM prices may rise further on downstream demand recovery
China’s domestic styrene monomer (SM) prices may continue rising because of expectations of a recovery in downstream demand from the middle of March, market sources said on Friday.

Focus - Mideast-to-NE Asia freights may rise on tight supply of vessels
Freights for prompt shipment of chemicals from the Middle East Gulf (MEG) to northeast (NE) Asia may see a slight increase in April because of tight availability of vessels, market sources said on Friday.

Focus - India to set terms on imports of second-hand oil/petchem units
India’s Department of Chemicals and Petrochemicals will be issuing guidelines on import of second-hand refinery and petrochemical plants for all five petroleum, chemical and petrochemical investment regions (PCPIRs) under construction across the country, a department official said on Friday.

Focus - China’s acrylic fibre supply to grow on start-ups in H2 2012
China’s acrylic fibre (AF) supply is expected to rise in 2012 as 50,000 tonnes/year of new capacity is scheduled to come on stream in the second half of the year, industry sources said on Friday.

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