Asia top stories – weekly summary

14 January 2013 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 11 January 2013.

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OUTLOOK ’13: Asian fatty alcohol players cautious on a few start-ups
The production capacity of fatty alcohols in Asia may grow by more than 30% in 2013, raising the prospect of a supply overhang in the next few years, industry sources said.

Focus Tight supply, rising petchem demand to bolster Asia naphtha
Asia’s intermonth naphtha spread is expected to firm on the back of tightening supply and rising Chinese demand for the petrochemical feedstock ahead of the Lunar New Year in February, traders said on Tuesday.

Taiwan’s CPC Corp may skip spot MTBE purchases in 2013
Taiwan’s CPC Corp may not need to buy spot methyl tertiary butyl ether (MTBE) this year as the company has ample supply from its term contracts, a company source said on Wednesday.

Focus Asia polystyrene to hit fresh record highs on surging SM cost
Spot polystyrene (PS) values in Asia look set to hit new all-time highs this week, driven by the strong prices of feedstock styrene monomer (SM), market sources said on Wednesday.

INSIGHT: India polyolefins demand appears to grow strongly
Polyolefins demand in India grew strongly in 2012 overriding a sluggish economy and an uncertain market outlook.

Focus India EPDM may weaken further on supply glut, weak demand
India’s ethylene propylene diene monomer (EPDM) values may fall further as producers clearing their stocks are cutting offers to draw in buyers in a subdued market, industry sources said on Thursday.

Focus Asia benzene to continue tracking weak Europe, US markets
Benzene prices in Asia may continue falling in the short-term, dragged down by weakness in the US and European markets for the aromatics product, industry sources said on Thursday.

Japan petrochemical shares gain on hefty fiscal stimulus
Shares of listed Japanese petrochemical firms were trading higher on Friday following an announcement of a hefty fiscal stimulus to boost the domestic economy.

Focus Mideast PET makers may cut output further on global oversupply
Polyethylene terephthalate (PET) producers in the Middle East may be forced to reduce operating rates this year to stave off margin pressures from rising feedstock costs amid a glut in global supply, industry sources said on Tuesday.

Focus Mideast base oils outlook mixed on firmer crude, weak demand
The Middle East base oil outlook is mixed as sellers are targeting higher prices in tandem with firmer crude costs, while buying sentiment remains bearish as domestic inventories in key importing markets are sufficient, industry sources said on Friday.

By: Staff Reporter
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