Asia top stories - weekly summary

25 February 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 22 February 2013.

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Focus - Asia capro to extend gains; producers not keen to raise output
Caprolactam prices in Asia look set to continue rising in the near term on limited supply, as regional producers are not keen on boosting output so soon as their margins have just started to improve, market sources said on Friday.

Focus - Asia’s PMMA producers eye price hikes for March
Asia’s polymethyl methacrylate (PMMA) producers are eyeing price increments to improve margins, but the extent of the increments might be limited because of weak demand, said industry players on Friday.

Focus - Asia’s naphtha retreats from hikes, backwardation weakens
Asia’s naphtha backwardation is likely to weaken after prices skidded from record levels this week, falling to below $1,000/tonne (€760/tonne) on the recovery of Indian exports and rising shipments from the Middle East, traders said on Friday.

Focus - Asia BD spike to halt as rubber makers mull deeper output cuts
Spot butadiene prices in Asia may soon stop rising, with demand expected to turn weaker as downstream synthetic rubber makers are considering cutting production further, industry players said on Thursday.

Focus - Asia polystyrene price uptrend capped by receding SM values
Asia polystyrene (PS) price uptrend will likely be capped as a result of retreating feedstock styrene monomer (SM) values this week despite an expected seasonal pickup in demand in the second quarter, producers and traders said on Wednesday.

Focus - China PE, PP import prices to stay firm through H1 March
China’s polyethylene (PE) and polypropylene (PP) import prices will be supported by high costs of feedstock, and may even increase up to the first half of March on restocking activity, industry sources said on Wednesday.

Focus - Better demand, strong crude to drive Thai PTTGC '13 earnings
Thailand’s PTT Global Chemical will likely see higher earnings this year, after posting a baht (Bt) 34.0bn ($1.14bn) net profit in 2012, with strong crude prices and improved demand as growth drivers, analysts said on Tuesday.

Focus - Asia methanol may gain as key China market re-opens
Buying activities for methanol in Asia are expected to pick up this week, with prices of the material likely to increase, as Chinese players return to the market after a week-long holiday, industry sources said on Monday.

Saudi’s Petro Rabigh 2012 net profit surges on higher production
Petro Rabigh’s net profit last year ballooned to Saudi riyal (SR) 488.9m ($130m) from SR65.9m in 2011, backed by higher production, the Saudi Arabian producer said on Wednesday.

Focus - GCC PVC rises on tight US supply; Asia imports to temper gains
Spot polyvinyl chloride (PVC) prices in the Gulf Cooperation Council (GCC) markets look set to continue rising, as US imports are dwindling following a force majeure declaration by Westlake Chemical since last week , industry sources said on Monday.

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