Asia top stories - weekly summary

16 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 13 July 2012.

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Focus-Asian anhydrous ethanol prices drop on weak export demand
Asia’s anhydrous ethanol prices are on a decline as a result of weak demand from a key importing country, the Philippines, despite the recent gains in corn futures in the US, market sources said on Friday.

Focus-Asia PBT may rise on cost pressures; weak demand to cap gains
Polybutylene terephthalate (PBT) prices in Asia may firm up in the next few months, backed by rising cost of raw materials, but the gains will likely be limited by weak demand, market sources said on Friday.

Focus-China PVC gains on restocking; strong rebound uncertain
Import prices of polyvinyl chloride (PVC) in China have started to move up this week as buyers replenish stocks, with major regional producer Formosa Plastics Corp (FPC) raising its August offers by $50/tonne (€41/tonne), market sources said Thursday.

Focus-China domestic ECH may extend gains as feedstock costs rise
Domestic spot prices of epichlorohydrin (ECH) in China surged by about 10% this week, with a strong likelihood of further increases, driven by rising costs of feedstock propylene, industry sources said on Wednesday.

Focus-China’s PE, PP price uptrend may fizzle out on weak demand
The current uptrend in China’s polyethylene (PE) and polypropylene (PP) import prices is likely to continue to end-July or early August on strong crude prices and low buyer inventory, before fizzling out on weak downstream demand, industry sources said on Tuesday.

Focus-Asia’s ACN may rebound as demand picks up amid tight supply
Asia’s acrylonitrile (ACN) prices may be near bottom and are likely to rebound soon as demand is picking up at the same time that supply is being restricted from a spate of production cutbacks, industry sources said on Tuesday.

Focus-Asian MMA prices to fall on weak downstream demand
Asian methyl methacrylate (MMA) prices are expected to weaken further in view of weak downstream demand, said market sources on Monday.

Focus-Mideast SN500 base oil prices fall on weak market, Europe lots
Group I base oil prices in the Middle East have come under pressure, posting a sharp decline with the downtrend likely to continue in line with softer discussion levels and the presence of lower-priced European cargoes, market players said on Friday. 

By: Staff Reporter
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