Asia top stories - weekly summary

20 August 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 17 August 2012.

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Focus-Asia TiO2 wide buy-sell gap stays; buyers expect lower prices
Spot titanium dioxide (TiO2) values in Asia may be stuck at current range given a wide gap in selling and buying ideas, as producers factor in rising raw material costs while buyers insist on lower prices, market sources said on Monday.

Focus-Asia MMA may stabilise after 10% slump; demand stays weak
Asia’s methyl methacrylate (MMA) prices snapped seven consecutive weeks of declines and may stabilise at current levels as producers attempt to recoup losses even as demand for the material has largely remained dismal, industry sources said on Tuesday.

Focus-Asian ABS, SAN retreat on weak demand amid low consumption
Asian acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN) resins prices retreated as demand in China waned amid low consumption trend in its biggest European and the US markets, traders and producers said on Wednesday.

Focus-China in oversupply of LNG; inventory piles up on weak demand
China’s inventory of imported liquefied natural gas (LNG) have been accumulating at ports since the second quarter of the year because of slowing domestic demand and increasing consumption of piped gas, market sources said on Wednesday.

Focus-China ECH to fall on domestic oversupply as new plants start up
Domestic and import prices of epichlorohydrin (ECH) in China will face a strong downward pressure in the near term as new capacity comes on stream despite continued weakness in downstream demand, industry sources said on Thursday.

Focus-Asia naphtha may extend gains on limited Oct deep-sea inflows
Asia’s naphtha prices may increase further, boosted by expectations of limited Western arbitrage material for October deliveries amid rising naphtha demand from European crackers, traders said on Thursday.

Iran’s Kharg Petrochemical runs methanol plant at 91%
Iran-based Kharg Petrochemical is currently running its 660,000 tonne/year natural gas-based methanol plant at 91% capacity, a company source said on Thursday.

Focus-Syrian exodus, Muslim Haj boost Mideast TDI, polyols demand
An influx of refugees escaping war-torn Syria into Jordan and other neighbouring countries, as well as the upcoming Islamic pilgrimage to Mecca in Saudi Arabia, will lead to a spike in demand for mattresses in the Middle East, market players in the toluene di-isocyanate (TDI) and polyols industry said on Friday.

By: Staff Reporter
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