Asia top stories - weekly summary

23 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 20 July 2012.

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Focus-Asia olefins uptrend seen capped by demand concerns
Asian olefins prices have been rising for the past one month but further gains are expected to be capped by weak derivative demand and more supply as recent cracker outages in the region have ceased, market sources said on Friday.

Focus-Asia polysilicon under further pressure on market uncertainty
Polysilicon prices in Asia are expected to fall further in the near-term, as a result of over-supply and weak demand following an unfavourable global economic situation, industry sources said on Thursday.

Focus-Asia BDO prices rebound on production cuts, outlook uncertain
Asian butanediol (BDO) prices have rebounded by $50/tonne (€41/tonne) on the back of ongoing production cuts and rising feedstock prices, but market players said on Thursday that they were uncertain as to how long the values will stay firm.

Focus-Asia SBR price upside limited on weak demand despite BD spike
Asia’s styrene butadiene rubber (SBR) price upside potential may be limited because fundamental demand remains weak despite the feedstock butadiene (BD) price spike, industry sources said on Wednesday.

Focus-Asian ABS retreats from highs of $2,000/t as buying abates
Spot acrylonitrile-butadiene-styrene (ABS) prices in Asia eased below $2,000/tonne (€1,620/tonne) this week - after trading as high as $2,030/tonne - as a result of weakening of buying interest, traders and producers said on Wednesday.

Focus-Asia methanol may weaken in near term on influx of Iran supply
Methanol prices in Asia are likely to remain stable to weak in the near term on expectations that China – a key regional market – will see a resumption of normal supply from Iran in August while demand is still weak, industry players said on Tuesday.

Focus-Asia benzene may firm up in near term on tight supply
Asian benzene prices may continue rising in the near term to track the buoyant US and European markets, supported by tight supply of prompt cargoes globally, market sources said on Monday.

Focus-Malaysia PME producers seek CPO export tax change
Malaysian biodiesel, or more specifically palm methyl ester (PME), producers are calling for a revision of the export tax structure for feedstock crude palm oil (CPO) cargoes in order to be cost competitive with the world’s largest PME producer, Indonesia.

Focus-S Korea polymer imports into Iran halted on sanctions
Import activity in Iran for polyethylene (PE) and polypropylene (PP) resins has been at a standstill since the end of June because of US-led sanctions, restricting business from sole supplier South Korea, market players said on Thursday.

China’s CNPC completes construction of Abu Dhabi crude pipeline
China National Petroleum Corp (CNPC) has successfully completed the construction of a crude pipeline in Abu Dhabi in the United Arab Emirates (UAE) and the operation ceremony was held on 15 July, CNPC said on Tuesday.

By: Staff Reporter
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