Asia top stories - weekly summary

08 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 5 October 2012.

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Focus Tight supply to support Asia toluene prices in October
Spot toluene prices in Asia will be supported throughout October by tight supply, which is expected to offset downward pressures stemming from poor demand, market sources said on Monday. 

Focus Tepid demand, supply glut to cap Asia polyacetal price gains
Asia’s spot polyacetal (POM) prices may move in a tight range this month, with inventory piling up given persistent weakness in demand amid the global economic gloom, market sources said on Tuesday.

Focus Asian 2013 hydrous ethanol prices to rise on low supply
Asia’s prices of hydrous ethanol will start 2013 on a high note following a flat line in the last quarter of this year, on the back of lower availability and firmer prices from major supplier Brazil, market sources said on Tuesday.

Focus Asia acrylic acid and esters prices to firm on supply concerns
Asia’s acrylic acid and acrylate esters spot prices are likely to trend upwards following an abrupt shutdown of Japan’s Nippon Shokubai’s Himeji facility and on the back of continued increase in Chinese domestic prices, market sources said on Wednesday.

Focus India PVC may soften on abundant supply in domestic market
Spot import prices of polyvinyl chloride (PVC) in India may continue to soften in the coming weeks on strong availability of material in the domestic market, industry sources said on Wednesday.

Focus Asia C3 offers down $40/t; may extend falls on surplus supply
Offers for Asian propylene (C3) fell by as much as $40/tonne (€31/tonne) this week as the unexpected shutdown of a major downstream acrylic acid facility in Japan freed up supply in the regional spot market, industry sources said on Thursday.

Focus Asia naphtha faces pressure from subdued C2, poor C3 markets
Asia’s open-spec naphtha prices could face downward pressure given subdued ethylene demand and a bearish propylene market, with lower cracker run rates persisting in Japan, traders said on Thursday. 

Focus Asia BD may fall on excess supply; major buyer to shut plants
Spot butadiene (BD) prices in Asia are likely to fall in the coming weeks as supply will exceed demand with the scheduled shutdown of major downstream synthetic rubber facilities in South Korea, market sources said on Friday.

Focus Low imports to keep India domestic toluene prices stable
India’s domestic toluene prices are expected to be stable-to-firm for the rest of the month in spite of recent weakness, as lower-than-usual volume of imports has been keeping supply tight, market participants said on Friday.

Focus Gulf PE, PP supply to stay tight on shutdowns, logistics woes
Polyethylene (PE) and polypropylene (PP) supply from the Gulf Cooperation Council (GCC) region may remain tight for the rest of the year given prevailing logistics problems, and with a number of regional facilities due for turnaround in the coming months, industry sources said on Friday.

By: Staff Reporter
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