Asia top stories - weekly summary

04 June 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 1 June 2012.

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Focus - Malaysia’s PCG to see better earnings in 2012 - analysts
Malaysia’s Petronas Chemicals Group (PCG) is expected to see improved year-on-year results for its full-year 2012 earnings on the back of rising plant utilisation rates and higher margins, analysts said on Tuesday.

Focus - India proposes 10% rise in urea prices on rupee depreciation
India
intends to increase urea’s retail price by about 10% to $105.86/tonne (€84.69/tonne) but is wary of stiff opposition from political parties and farmers’ lobby, a senior official in Ministry of Chemicals and Fertilizer said on Tuesday.

Focus - Falling rupee stalls India’s petrochemical imports
India
’s importers of petrochemicals are wary of taking in shipments as the plunge of rupee against the US dollar translates into much higher prices of cargoes, industry sources said on Monday.

Focus - S Korea petchem exports fall in April, to recover through ’12
South Korea
’s petrochemical exports fell by 4.9% year on year to $3.60bn (€2.88bn) in April 2012 because of weaker demand from China and Europe, but is expected to recover through the rest of this year, analysts said on Tuesday. 

Focus - China’s home appliance subsidy may not boost PP demand
China
’s subsidy for energy-efficient home appliances may not boost domestic demand for polypropylene (PP) resin immediately because it applies only to a limited product range, industry sources said on Wednesday.

Focus - Asia BR prices to fall further in June on weak feedstocks, demand
Asia
’s butadiene rubber (BR) prices are likely to drop further in June because of declining feedstock butadiene (BD) prices, weak demand and oversupply, industry sources said on Thursday.

Focus - Asia’s melamine price outlook uncertain on weak demand
The near-term outlook for Asian melamine spot prices remains uncertain on the back of constantly weak demand from the downstream plywood and tableware sectors, according to industry sources on Thursday.

Focus - Asia benzene may soften further on weak crude, naphtha values
Benzene prices in Asia may decline further in the near term driven by the current downtrend seen in upstream crude and naphtha futures, traders and producers said on Friday.

Focus - Asia PTA plunges to 19-month low on bearish outlook
Asia’s spot purified terephthalic acid (PTA) prices fell to a 19-month low because of bearish outlook fuelled by sharp falls in WTI crude futures and China’s PTA futures, market sources said on Friday.

Focus - China C3 supply shrinks as Shandong refineries cut output
China’s propylene (C3) supply is being constrained by a spate of shutdowns and production cuts at refineries based in Shandong province since the second half of May, industry sources said on Friday.

Focus - Asia naphtha at 18-month low on cracker shutdown, reduced ops
Asia’s naphtha prices plummeted this week, hitting an 18-month low, with expectations of further erosion as a result of long supply, weak demand, softer European values and weaker energy futures, traders and producers said on Friday.

Focus - Asian GP PMMA delay June offers on weak crude futures
General purpose (GP) polymethyl methacrylate (PMMA) offers for June in Asia have been put off for a week because customers were uncertain of demand amid softer energy futures, producers said on Friday.


By: Staff Reporter
+44 20 8652 3214



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