Asia top stories – weekly summary

21 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 18 January 2013.

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Asia to receive at least 500,000 tonnes Western naphtha supply
Asia will receive at least half a million tonnes of deep-sea naphtha from northwest Europe, the Mediterranean and the US from the second half of February, traders said on Monday.

Jiangsu Sanding starts building $4bn China petrochemical project
China’s Jiangsu Sanding Petrochemical and Technology has started building its planned yuan (CNY) 25bn ($4bn) petrochemical and specialty materials project in Yancheng, a company source said on Monday.

Focus Asia BD uptrend to continue on strong buying interest
Asia’s butadiene (BD) prices look set to rise further, with current offers for February cargoes at above $1,800/tonne (€1,350/tonne), on expectations that demand in the key China market will pick up after the Lunar New Year holiday, industry sources said on Tuesday.

Focus Tight supply to drive near-term gains for Asia PVC, VCM prices
Spot prices of polyvinyl chloride (PVC) and feedstock vinyl chloride monomer (VCM) in Asia are poised to continue rising in the near term on tight regional supply following the shutdown of major facilities in Malaysia, industry sources said on Wednesday.

Focus Asia SM prices retreat from recent high, rebound possible
Asia styrene monomer (SM) prices retreated this week after reaching a record high of $1,800/tonne (€1,350/tonne) on 4 January, but a rebound is possible on the back of tight supply caused by plant shutdowns, traders said on Wednesday.

Focus Asia’s polysilicon to rise further on Lunar New Year stockpiling
Asia’s spot polysilicon prices are expected to rise further, triggered by an increase in stockpiling activity in China ahead of the Lunar New Year holidays in February, market sources said on Thursday.

Focus Cost-push factors, tight supply to buoy up Asia butyl glycol
Spot butyl glycol prices in China and southeast Asia will be firmly supported by rising costs of raw material n-butanol, as well as by limited availability of deep-sea material in the first quarter, market sources said on Thursday.

Focus Asia BDO may extend gains on restocking ahead of Lunar New Year
Asia's butanediol (BDO) prices may increase further in the coming weeks on the back of limited supply, rising feedstock cost and restocking activities by end-users ahead of the week-long Lunar New Year holiday in the key China market, industry sources said on Friday.

Focus Mideast base oils to rise on firm upstream, low availability
The Middle East prices of Iranian Group I base oils will rise further in the first quarter of 2013 in tandem with firmer feedstock costs and lower availability amid strengthening demand, buyers and sellers said on Friday.

By: Staff Reporter
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