Asia top stories - weekly summary

28 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 25 January 2013.

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Focus Asia acrylic acid, acrylate esters poised down on weak buying
Acrylic acid and acrylate esters prices in Asia are likely to come under pressure on weak buying interest and lower-priced cargoes from China, market sources said on Monday.

Focus Oversupply to weigh down on south China bitumen market
Spot bitumen prices in southern China may remain under pressure as the region’s chronic oversupply is expected to worsen with a projected 30% increase in production capacity by end-2014, industry sources said on Tuesday.

Focus Asia BR makers mull further production cuts on rising BD cost
Butadiene rubber (BR) producers in Asia are inclined to further cut output if feedstock prices continue to shoot up and erode their margins, market sources said on Wednesday.

Focus Asia ABS may fall until mid-February as sellers offload stocks
Spot acrylonitrile-butadiene-styrene (ABS) prices in Asia fell below $2,000/tonne (€1,500/tonne) this week and may remain under pressure as sellers have been lowering their offers to offload cargoes ahead of the Lunar New Year holiday, market sources said on Thursday.

Focus Asia naphtha stays buoyant on petchem stockpiling, short supply
Asia’s naphtha prices will be buoyed in the weeks ahead by Chinese end-users' stockpiling of petrochemicals ahead of the Lunar New Year holiday, stripping off the limited feedstock supply in the region, traders said on Thursday.

Focus Asia isomer-grade xylene prices slump on weak demand
Spot isomer-grade xylene prices in Asia have declined by about 5% since the year started and may continue to fall, with demand recovery in the downstream textile industry unlikely to happen any time soon, market sources said on Friday.

Focus Asia benzene poised to soften on more supply, less demand
Spot benzene prices are Asia is likely to stay soft, as a result of increased supply and weaker demand from the downstream sectors, market players said on Friday.

Iran bitumen producers resume exports after four-month halt
Iran’s state-owned Pasargad-Oil and Jay-Oil have resumed exporting bitumen following a four-month moratorium, as government restrictions on outbound shipments have been relaxed, industry sources said on Monday.

By: Staff Reporter
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