Asia top stories - weekly summary

30 April 2012 02:00  [Source: ICIS news]

SINGAPORE(ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 27 April 2012.

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Buyer resistance to weigh on Africa PE, PP May prices – producers
A concerted attempt to roll over Africa’s polyethylene (PE) and polypropylene (PP) May import prices could be thwarted by strong buyer resistance to high-priced product, producers from the Middle East, South Korea and India said on Wednesday.

France’s Rhodia and Tantalus to work together on rare earth project
Rhodia has signed a letter of intent (LOI) with Tantalus to generate rare earth concentrates in Madagascar, the France-based specialty chemical company said on Monday.

Focus - Gulf May PP supply stays tight on low production in April
Spot polypropylene (PP) supply from the Gulf Cooperation Council (GCC) remains short for May shipments, as polymer facilities in the region ran at reduced capacity for most of April, industry sources said on Friday.

Focus - Mideast ammonia prices rise on tight supply, healthy demand
The spot prices of ammonia in the Middle East are continuing to rise because of tight availability, reduced exports from Iran and healthy Asian demand, Middle Eastern producers and Asian buyers said on Thursday.

Focus - S Asia acetic acid at six-month highs on supply shortage
Spot acetic acid prices in south Asia hit a six-month high, with India-based end-users quoting high bids for May loading cargoes amid a tightening of supply, market sources said on Monday.

Mitsui Chem shuts all Iwakuni-Ohtake units after Sunday blast
Japanese producer Mitsui Chemicals has shut production at all its facilities at Iwakuni-Ohtake Works in Yamaguchi prefecture following Sunday’s blast at the site that killed a 22-year-old worker and injured 21 others, a company official said on Monday.

Focus - Asia BD may extend falls as synthetic rubber demand slumps
Spot butadiene (BD) prices in Asia seem poised to continue declining, with a good chance of falling below $3,000/tonne (€2,280/tonne), amid waning demand from downstream synthetic rubber sector, industry sources said on Tuesday.

Fire at Mitsui Chem put out, Iwakuni-Ohtake units remain shut
A fire at Mitsui Chemicals' facilities at Iwakuni-Ohtake Works in Yamaguchi prefecture, Japan, has been extinguished, following a blast on Sunday at the site that killed a 22-year-old worker and injured 21 others, the company said on Monday.

Focus - Sluggish demand tempers northeast Asia VCM price uptrend
Vinyl chloride monomer (VCM) prices in northeast Asia may not see strong gains in the near term despite current tightness in supply, in view of persistently poor demand, market sources said on Wednesday.

Focus - Asia toluene to stay flat in near term on weak fundamentals
Asia’s toluene prices are expected to remain flat in the near term at around early $1,200/tonne (€912/tonne) as a result of persistent weak demand and ample supply, traders said on Friday.

Focus - Asia ACN may extend falls on low China AF, ABS production
Acrylonitrile prices in Asia look set to fall next month as buyers from downstream acrylic fibre (AF) and acrylonitrile butadiene styrene (ABS) sectors in the key China market retreat to the sidelines because of poor market conditions, industry sources said on Friday.

Focus - Better chemical spreads to aid Thai SCG H2 earnings – analysts
Thailand’s Siam Cement Group (SCG) will likely see better earnings in the second half of the year after a first-quarter slump, on expectations of better petrochemical margins, analysts said on Thursday.

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