Asia top stories - weekly summary

14 May 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 11 May 2012.

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Update - Thai PTTGC Q1 net profit falls 12% on high feedstock costs
PTT Global Chemical’s (PTTGC) first-quarter net profit fell by 12% year on year to Thai baht (Bt) 9.85bn ($317m), weighed by high feedstock costs and waning overseas demand, the Thailand-based chemicals maker said late on Thursday.

Focus - Asian bitumen prices down on softer fuel oil prices
Asia’s bitumen prices for June cargoes have fallen in tandem with the decline in fuel oil markets amid softer crude futures this week, but Iranian offers rose on a stronger rial, market sources said on Friday.

Focus - Asia SBR falls 7%; may extend declines on ample supply
Spot styrene butadiene rubber (SBR) prices in Asia have shed about 7% this week and may remain on a downtrend this month, as supply continues to outstrip demand, industry sources said on Thursday.

Focus - East China bitumen supply to drop on shutdowns, weak demand
Bitumen supply in east China will drop in May as refiners have shut their plants or are planning to carry out maintenance works in response to the prevailing weak demand, traders said on Thursday.

Focus - Asia BR market shrugs off Thai BST Elastomers' force majeure
Offers for butadiene rubber (BR) in Asia have stayed at $3,500-3,600/tonne (€2,695-2,772/tonne) on Wednesday, largely unaffected by a reduction in regional supply from the shutdown of a Thai facility that could last six months, market sources said.

Focus - China MIBK may hit record high on supply disruption in Japan
Spot methyl isobutyl ketone (MIBK) prices into China may test the record high of $2,175/tonne (€1,675/tonne), as production issues in Japan further tightened regional supply, market sources said on Wednesday.

Focus - Asia ABS plummets, demand seen weak for May
Asian acrylonitrile-butadiene-styrene (ABS) prices fell to this year’s low amid receding demand which is unlikely to recover till June and poor buyers’ sentiment, traders and producers said on Tuesday.

Update - Thai BST declares FM in Map Ta Phut; BR, SBR plants damaged
Bangkok Synthetics Co Ltd (BST) and its affiliate BST Elastomers have declared force majeures on overall production in Map Ta Phut, Thailand, following a fatal explosion and fire on 5 May that damaged some of their plants at the site.

Saudi Kayan halts operations at Al-Jubail plants on technical snag
Saudi Kayan Petrochemical on 9 May stopped production at some of its plants at Al-Jubail in Saudi Arabia because of a technical failure, the producer said in a filing to the Saudi Stock Exchange late on Wednesday.

Focus - Middle East TDI ends 5-month uptrend on strong buyer resistance
Spot toluene di-isocyanate (TDI) values in the Middle East fell last week, snapping five months of steady increase, and look set to continue falling as buyers put up strong resistance to continued price spikes, industry players said on Tuesday.

By: Staff Reporter
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