Asia top stories - weekly summary

19 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 16 March 2012

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S Africa's Sasol lowers April LDPE offers to buy back market share
South Africa's '''Sasol has decreased its April '''low density polyethylene ('''LDPE) domestic offers by rand (R) 1,000/tonne in a bid to buy back market share from importers, industry sources in the country said on Wednesday.

South Africa’s Sasol chemical cluster H1 2012 op profit up 25.7%
South Africa’s '''Sasol said on Monday its chemical cluster’s operating profit for the first half of 2012 financial year surged 25.7% year on year to rand (R) 4.34bn ($573m) boosted by strong performance from its solvents business unit.

China Feb trade deficit at 12-year high; surplus to return in Q2
China posted its biggest trade deficit in 12 years last month as exports lagged behind imports growth, but a combination of a looser monetary policy, a stable exchange rate and better demand from Europe should help the country’s shipments abroad to grow stronger in the second quarter, analysts said on Monday.

Focus - Iran PE, PP may continue price spikes; S Korea as lone supplier
Spot prices of Iran’s polymer imports are on a firm uptrend, with only South Korea left as its main supplier of polyethyelene (PE) and '''polypropylene (PP) resins amid a further tightening of international sanctions on the Middle Eastern country this year, industry sources said on Friday.

Focus - Japan reconstruction after quake to propel growth in 2012
Continuing reconstruction will ensure expansion of the Japanese economy in 2012, a year after a massive earthquake and tsunami devastated the northeastern part of the country, and precipitated a power crisis that hit its industries, analysts said on Monday.

Focus - China calcium carbide may extend gains on high feedstock costs
Cacium carbide prices in China have increased by up to 6% since mid-February and look set to continue an uptrend backed by firm feedstock costs and tight supply, industry sources said on Monday.

Indian Oil to seek foreign partner for Odisha LNG terminal
Indian Oil is planning to seek a foreign partner for its proposed $2bn (€1.5bn) liquefied natural gas (LNG) terminal at the coastal province of Odisha in eastern India, a senior company official said on Tuesday.

Thailand's Vinythai seeks long-term feedstock supply for ECH unit
Thailand’s vinyl and chlor-alkli maker Vinythai is seeking long-term supply of feedstock refined glycerine for its 100,000 tonne/year epichlorohydrin (ECH) plant at Mat Ta Phut, a plant official said on Thursday.

Focus - Chinese PA prices to fall further on weak demand, high stock
China’s domestic prices of phthalic anhydride (PA) are expected to drop further on weak demand from the downstream dioctyl phthalate (DOP) sector and high inventory levels, industry sources said on Wednesday.

Focus - China benzene may stay high throughout March on tight supply
China’s domestic '''benzene prices are likely to stay firm this month on limited supply, as some aromatics facilities in the country are either shut or currently running at reduced capacity, industry sources said on Wednesday.

Focus - Asian styrenics prices seen flat on slow downstream demand
Asia styrenics prices are likely to remain flat after a two-month climb amid soft demand for finished goods from Europe and the US due to weak economic conditions there, producers and traders said on Wednesday.

Focus - Asia April SBR contract talks in deadlock on volatile BD market
Negotiations on Asian April '''styrene butadiene rubber (SBR) contracts have stalled amid volatile movement in prices of feedstock '''butadiene (BD), market sources said on Friday.


By: Staff Reporter
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