Asia top stories - weekly summary

22 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 19 October 2012.

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Focus Asia naphtha to draw support from tight supply, firm demand
Asia’s naphtha prices are expected to be underpinned by tightening supply in the region as a closed arbitrage window prevented fresh bookings of European shipments, traders said on Monday.

Focus - Asia PBT may remain stable in near-term on snug supply
Spot prices of natural grade polybutylene terephthalate (PBT) in Asia may remain supported at current levels as producers run plants at reduced rates amid continued weakness in demand, market players said on Tuesday.

Focus - Asia SM prices gain on backwardation, uptrend to continue
Asian spot prices for styrene monomer (SM) October parcels have soared above $1,800/tonne amid chronic tight supply, with the uptrend likely to last this month and the next, traders said on Wednesday.

Focus - Asia polycarbonate likely to be stable throughout Q4
Spot values of polycarbonate (PC) in Asia are likely to remain largely stable in the fourth quarter despite producers’ attempts to implement price hikes because of ample supply and sluggish downstream demand, market sources said on Wednesday.

Focus - Singapore's non-oil domestic exports to remain weak – analysts
Singapore’s non-oil domestic exports (NODX) is expected to remain volatile through the end of this year amid poor external demand and falling shipments to major economies, analysts said on Thursday.

Focus - Asia benzene may stay firm through to early Nov on tight supply
Asia’s benzene prices will be supported at current levels and could even rise as supply of the aromatics material remains tight in the northeastern and southeastern parts of the region, market participants said on Thursday.

Focus - Weak Asia BR to persist on poor demand as China growth slows
Butadiene rubber (BR) prices in Asia may remain weak for the remainder of the year, with demand recovery unlikely amid a slowing Chinese economy, industry sources said on Friday.

Saudi’s SABIC Q3 net profit falls 23% on lower product prices
SABIC had a 23% year-on-year decline in its third-quarter net profit to Saudi riyal (SR) 6.31bn ($1.68bn) as product prices declined, the Saudi Arabian petrochemical giant said on Wednesday.

By: Staff Reporter
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