Asia top stories - weekly summary

01 October 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 28 September 2012.

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Asia petchem trades slow down ahead of week-long China holiday
Trades across all petrochemical products in Asia slowed down this week as purchases from the region’s biggest importer – China – ground to a halt ahead of the country’s week-long National Day celebration, industry players said on Friday.

Focus - Asia naphtha prices to march higher on Europe strength, crude
Asia’s open-spec naphtha prices may march higher, underpinned by strong European naphtha values and robust crude futures, traders said on Friday.

Focus - Malaysian plastics converters may use more LDPE to cut cost
 Malaysia's plastics processors may use more low density polyethylene (LDPE) in place of linear low density polyethylene (LLDPE) to reduce raw material costs if the price spread between the two grades widens, industry sources said on Friday.

Focus - S Korea petrochemical exports to stay weak near term -analysts
South Korea’s petrochemical exports will likely continue to falter for the rest of the year, after registering an annual double-digit decline in August, on slowing demand from key markets, analysts said on Thursday.

Focus - Asia polysilicon to slide on bloated global inventories
Asian solar-grade polysilicon spot prices are likely to slide because of poor demand and overwhelming global inventory levels estimated at 30,000 tonnes, market players said on Thursday.

Focus - Asia hydrous ethanol to stay flat in Q4 on subdued trade
Asia’s hydrous ethanol prices may see limited movement for the rest of 2012 as buyers have fulfilled their requirements up to the fourth quarter, market players said on Wednesday.

Focus - Asia SM stabilises at low-$1,500s/tonne; may fall in Oct-Nov
Asian styrene monomer (SM) prices stabilised this week, and appeared to have found a temporary floor in the low-$1,500/tonne levels because of tight supply in the key China market, traders and brokers said on Tuesday.

Focus - Asia naphtha premiums find support at $10-11/tonne
Premiums on spot naphtha trades in Asia appeared to be supported at $10.00-11.00/tonne (€7.70-8.47/tonne)following recent falls, as South Korean cracker operators have remained as active buyers in the market, traders said on Tuesday.

Asia petrochemical shares fall on demand concerns
Shares of Asian petrochemical firms tumbled on Monday, in line with regional stock markets, on lingering concerns over softening demand given underlying weakness in the global economy that prompted recent policy actions in the US and Japan.

Iran’s Sepahan Oil drops base oil prices for third week
Iranian major Sepahan Oil dropped its list prices of SN500 base oils for a third consecutive week in line with the overall bearish sentiment in the Middle East market, a company source said on Monday.

By: Staff Reporter
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