Asia top stories - weekly summary

11 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 8 June 2012.

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Focus - India to rationalise inverted import duty structure on petchems
India will initiate an exercise to correct its inverted import duty structure on chemicals and petrochemicals, wherein feedstock attracts a lower duty than several downstream value-added products, a senior government official said on Wednesday.

Focus - China PE, PP to extend falls; may rebound in Aug on restocking
China’s polyethylene (PE) and polypropylene (PP) import prices may continue to fall, in line with declines in values of crude and feedstock olefins, industry sources said on Wednesday.

Focus - China MIBK prices may extend fall on weak demand
Spot methyl isobutyl ketone (MIBK) prices into China may extend a decline from a record high because of weak demand and lower feedstock costs, market sources said on Tuesday.

Focus - Output cuts/shutdowns at Asia crackers may temper BD falls
Production cuts and shutdowns at some Asian crackers could temper the continuous slide in butadiene (BD) prices in the region, although demand is expected to remain weak, industry sources said on Tuesday.

Focus - China bitumen may extend slide on delays in road projects
Bitumen prices in the Chinese market look set to continue falling, with road projects being delayed by funding constraints amid a domestic credit crunch, as well as by an onset of the rainy season in the southern regions, industry sources said on Thursday.

Focus - Asia BR dips below $3,000/tonne; may extend falls on weak BD
Spot butadiene rubber (BR) prices in Asia may extend falls after dipping below $3,000/tonne (€2,370/tonne) this week, in line with declining values of feedstock butadiene (BD), amid weak demand and ample supply, industry sources said on Friday.

Egypt slaps 15% import duty on PP resins for 200 days from 5 June
Egypt has imposed a 15% duty on polypropylene (PP) resins imports for a period of 200 days from 5 June, according to a government document obtained by ICIS on Friday.


By: Staff Reporter
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