Asia top stories - weekly summary

Asia ABS hits parity with HIPS at about $1,850/t on weak demand
Asia acrylonitrile-butadiene-styrene (ABS) values continued to weaken this week, with price quotes for the resins now at the same levels as those for rival product, high impact polystyrene (HIPS), market sources said on Monday.

Focus China gas pricing reform a must to ensure sustainable supply
China’s strong natural gas consumption is requiring a nationwide implementation of a market-oriented pricing reform to reflect the true value of the clean energy, which is in scarce supply, and help ensure sustainable long-term import supply for the country, industry sources said on Wednesday.

Focus China MTBE buyers shun imports as prices spike on strong crude
Importers of methyl tertiary butyl ether (MTBE) in China have retreated from the market as prices of the product has been tracking the sharp increase in crude values, industry players said on Thursday.

Focus Asia naphtha may fall on weak plastics demand, rising supply
Asia’s open-spec naphtha prices could face downward pressure from persistently weak petrochemical demand at a time of rising deep-sea supply, traders said on Thursday.

Focus Asia ECH may rebound after 16% fall over six months
Spot epichlorohydrin (ECH) prices in Asia may soon increase after shedding about 16% since late May, with current values now almost at parity with main feedstock propylene, market sources said on Friday.

Focus Asia faces lighter cracker turnarounds in 2013-sources
Asia will face a much lighter cracker turnaround next year, with around 2.82m tonnes/year of ethylene capacities to be taken off line, company and industry sources said on Friday.

Focus Mideast base oils may extend falls on weak demand, supply glut
Spot base oil prices in the Middle East may continue falling, as weak buying interest amid ample inventories is forcing sellers to lower their offers, market sources said on Tuesday.

By: Staff Reporter
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