Asia top stories - weekly summary

02 July 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 29 June 2012.

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Focus - Asia BD rebounds on restocking; poor demand to limit uptrend
Spot butadiene (BD) prices in Asia may rise further in July on restocking, but the uptrend may be short-lived because of continued weakness in demand, while supply will be augmented by deep-sea shipments, industry sources said on Tuesday.

Focus - Asia EPS stays firm on strong SM prices; demand remains weak
Expandable polystyrene (EPS) prices in Asia will be buoyed by strong prices of feedstock styrene monomer (SM), with offers for the resins remaining firm at $1,510/tonne (€1,208/tonne) in spite of lacklustre demand, market sources said on Wednesday.

Interview - Global EVA growth could vary by 300,000 tonnes over 5 years
Global ethylene vinyl acetate (EVA) demand growth could vary by as much as 300,000 tonnes over the next five years as a result of great uncertainty over demand from the downstream solar-panel industry, said a chemicals and plastics industry consultant.

Focus - China’s ECH import outlook uncertain amid wide buy-sell gap
China’s epichlorohydrin (ECH) import players have been thrown into uncertainty about the market outlook following a persistently wide gap between buying and selling ideas, market sources said on Thursday.

Focus - Asia ADA under pressure; tightening supply to temper falls
Spot adipic acid (ADA) values in Asia are still under pressure to decline because of poor demand, but a tightening of regional supply amid production cuts and delayed start-ups of new plants should help temper the price falls, industry sources said on Thursday.

Focus - Asia polysilicon to remain soft on global oversupply
Polysilicon spot prices in Asia are likely to remain depressed this year because of an oversupply in the global market, and with China – a key market for the product – possibly slapping antidumping duties on imports from the US and South Korea, market sources said on Thursday.

Focus - S Asia acetic acid in for near-term stable-to-soft price trend
Spot acetic acid prices in South Asia may stabilise in the near term after plunging to a six-month low this month, backed by firm prices of feedstock methanol in China, market sources said on Wednesday.

Focus - Asia naphtha gains but real market recovery not yet at hand
Recent gains made by Asian naphtha spot prices may not be sustainable despite a recent spike in spot buying activities as demand for downstream petrochemicals is fundamentally weak, market sources said on Friday.

Focus - Mideast PE, PP prices to slide in July on soft overseas market
Middle East spot polyethylene (PE) and polypropylene (PP) prices will likely fall for a second straight month for July parcels, tracking the recent months of steep declines in Asia and Europe, market players said on Thursday.

US exempts China, Singapore from sanctions on Iran oil purchases
The US late on Thursday exempted China and Singapore from financial sanctions for buying Iranian oil over a period of six months.

By: Staff Reporter
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