Asia top stories - weekly summary

27 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 24 August 2012.

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Focus-Asia naphtha seen balanced as demand counters hefty supply
Asia naphtha market is seen getting balanced, with rising spot demand likely to offset an armada of Western deep-sea imports, traders said on Friday.

Focus-Influx of cheaper imports to temper PE price gains in India
Huge volumes of lower-priced polyethylene (PE) cargoes –  mainly low density PE (LLDPE) film and low density PE (LDPE) lamination/coating grade – that have been flowing into India since July will likely cap price gains in the country's import market, industry sources said on Friday.

China’s major petrochemical July output declines on weaker demand
China’s output of major petrochemical products has shown a large decline in July because of the weaker demand and slower economy of the country, industry sources said on Wednesday.

Taiwan industry output seen to shrink in July on poor export orders
Taiwan’s industrial production is expected to contract in July as export orders declined, including those of petrochemicals, analysts said on Tuesday.

Asia SM offers spike on tight supply; up 17% from early June
Offers for styrene monomer (SM) in Asia breached $1,450/tonne (€1,160/tonne) this week, representing a 17% increase from early June, because of tight availability of prompt cargoes, market sources said on Thursday.

Thailand's Q2 GDP expands by 4.2% as manufacturing improves
Thailand’s economy expanded by 4.2% year on year in the second quarter of 2012 amid a recovery in its manufacturing sector following the devastating floods last year, official data showed on Monday.

Qatar’s Tasweeq sells term naphtha supply at ME+$26-28/tonne
Qatar International Petroleum Marketing Co (Tasweeq) has sold by tender one-year term supply of plant condensate and full-range naphtha for October 2012 to September 2013, traders said on Wednesday.

Saudi Polymers ships first on-spec Al-Jubail HDPE to Asia in Sept
Saudi Polymers will start shipments to Asia of on-spec high density polyethylene (HDPE) film and blow moulding grades from its new facilities in Al-Jubail, Saudi Arabia, next month, the company’s buyers said on Thursday.


By: Staff Reporter
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