Asia top stories - weekly summary

03 December 2012 01:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 30 November 2012.

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Focus China domestic PO market to soften as demand turns weak
Domestic spot prices of propylene oxide (PO) in China may fall for the rest of the year as demand typically weakens at the onset of the winter season, leading to an oversupply of the material, industry sources said on Monday.

China October imports of most petrochemicals fall from September
China’s import volumes of most petrochemical products in October decreased compared with the previous month, with significant declines seen in acetone, polysilicon and styrene monomer (SM), official data showed on Monday.

Focus Asia ACN may have hit bottom; output cuts to support prices
Spot acrylonitrile (ACN) prices in Asia may have bottomed out at an average of $1,700/tonne (€1,309/tonne), supported by a tightening of supply as regional producers cut output, industry sources said on Tuesday.

Focus India PVC may gain in December on better demand for pipes
Polyvinyl chloride (PVC) resins prices in India may increase in December, backed by better demand for end-product irrigation pipes amid the ongoing sugarcane harvest season, industry sources said on Wednesday.

China’s polysilicon prices fall on oversupply, weak demand
Spot prices of solar-grade polysilicon have weakened in China, undermined by an imbalanced market where supply is outstripping demand, industry players said on Thursday.

India acetone gains $40/tonne on weaker rupee, tight supply
Spot prices of acetone in India rose by $40/tonne (€31/tonne) this week as the country’s currency – the rupee – weakened, making imports more expensive, market sources said on Thursday.

Focus China’s ACN prices to rise on reduced output, tight supply
China’s acrylonitrile (ACN) prices may continue rising in the coming weeks because of lower production rates and tight supply, market sources said on Friday.

Focus Asia naphtha premiums to slide on rising supply, weak demand
Spot naphtha premiums in Asia are likely to slide further, weighed by growing supply and subdued petrochemical demand, traders said on Friday.

Focus Asia BD to stabilise after 8-week fall; rebound unlikely in Dec
Spot butadiene (BD) prices in Asia could soon stabilise after eight weeks of uninterrupted decline, supported by tightening supply, but values may not rebound in December as traders offload surplus stocks, industry sources said on Friday.

Interview GPCA ’12: Mideast, Asia polyolefins demand to grow 5-6% in 2013
Demand for polyolefins is expected to grow at 5-6% in 2013 in Asia and the Middle East, despite the challenge posed by the slow recovery in the global economy, a senior official at plastics company Borouge said on Thursday.

By: Staff Reporter
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