Asia top stories - weekly summary

03 September 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 31 August 2012.

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Focus - Some Asia PA makers mull further output cuts on margin squeeze
A number of phthalic anhydride (PA) producers in Asia may consider cutting production further given a significant narrowing of price gap between their products and feedstock orthoxylene (OX), market sources said on Friday.

Focus - Asia’s naphtha backwardation to surge on tight supply
Asia’s naphtha price backwardation is expected to widen further on the back of tighter regional supply of the petrochemical feedstock, traders said on Thursday.

Focus - China’s PE, PP import prices may move sideways in Q4
China’s polyethylene (PE) and polypropylene (PP) import prices are likely to fluctuate in a tight range in the fourth quarter amid marginal demand increase and substantive new capacity addition in the country, industry sources said on Wednesday.

Focus - China benzene prices hit 4-yr high; to rise more on short supply
China’s benzene prices have hit a four-year high on Tuesday since the financial crisis in 2008 and are expected to continue increasing in the near term in light of tight availability, industry sources said on Wednesday.

Focus - Pakistan PP at three-month high; may extend gains on restocking
Spot polypropylene (PP) raffia prices in Pakistan hit a three-month high at above $1,400/tonne (€1,120/tonne), and may continue to strengthen in September as buyers replenish their inventory, market players said on Wednesday.

Focus - Asia MIBK may rise on better demand, firm feedstock prices
Spot prices of methyl isobutyl ketone (MIBK) in Asia may rise in September and October on the back of tight supply and stable-to-firm prices upstream acetone values, market sources said on Tuesday.

Focus - Strong crude, SM to buoy up Asia ABS prices in near term
Asian acrylonitrile-butadiene-styrene (ABS) prices increased last week and will likely continue to derive support from buoyant values of feedstock prices although demand remains weak, market sources said on Monday.

Focus - Asian soap noodle prices rise on firm feedstocks and demand
Asia’s soap noodle market is bullish on the back of rising feedstock prices and steadily growing demand, with producers increasing their offers as a result, market sources said on Monday.

Focus - Tight supply, seasonal demand support China glycerine prices
Spot prices of crude glycerine shipments to China are likely to be supported by tight supply and an expected seasonal improvement in Chinese demand during the fourth quarter, market players said on Monday.

Focus - Tighter sanctions fail to deter Iran methanol exports to Asia
Iran is expected to continue exporting methanol into Asia in spite of the tightened West-led international sanctions to the Middle Eastern country over a suspected nuclear weapons programme, because the region needs the Iranian material, industry sources said on Thursday.

Focus - Mideast SN500 base oil prices may rise on supply shortage
Import prices of Group I SN500 base oils in the Middle East may rise on the back of an expected further supply shortage in the United Arab Emirates (UAE), market players said on Tuesday.

By: Staff Reporter
+44 20 8652 3214

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