Asia top stories - weekly summary

18 March 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 15 March 2013.

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Focus Weak PS demand in India to continue; substitution trend grows
India’s polystyrene (PS) consumption looks set to end the current fiscal year at below 250,000 tonnes, representing a 6-7% decline from the previous year, with the weakness expected to continue and weigh on prices of the material, industry sources said on Monday.

Focus Asia BD plunges 9%; may extend slump on weak demand
Asia’s butadiene (BD) prices may drift below $1,800/tonne (€1,386/tonne) this month after a 9% slump last week, as supply outstrips demand because of a weak downstream synthetic rubber market, industry sources said on Tuesday.

Focus Asia naphtha market under pressure as plastics demand weakens
Spot naphtha prices in Asia are feeling the downward pressure from weakening plastics demand, with industrial production in the key China market remaining soft, traders said on Wednesday.

INSIGHT: India eyes strong PVC growth in first half of fiscal 2013-14
Polyvinyl chloride (PVC) resin demand in India is expected to grow strongly in the first half of the 2013-14 fiscal year. Demand from agriculture will grow even if infrastructure spending stalls in the run up to central government elections.

Focus Asia SBR prices fall on lower feedstock, weak demand
Styrene butadiene rubber (SBR) prices fell during the week in Asia as plunging feedstock butadiene (BD) prices, abundant supply and weak demand forced traders to sell off their stocks at sharply reduced prices, industry sources said.

Focus Asia SM market pauses after 5% slump; may resume downtrend
Spot styrene monomer (SM) prices in Asia appear to be taking a breather from sharp falls this week, but could resume their downtrend in the near term as supply will grow long when turnarounds at regional plants are completed, industry sources said on Thursday.

Focus NE Asia ethylene hits three-month low, no bottom in sight
Northeast Asian ethylene spot prices have fallen to a three-month low and could head further south because of weak derivative demand, market sources said on Friday.

S Africa's Sasol June-Dec ’12 net profit falls on one-off charges
South Africa’s Sasol said on Monday that its net profit fell by 11.7% year on year to rand (R) 12.6bn ($1.34bn) for the second half of 2012, because its operating profit was hit by one-off charges.

By: Staff Reporter
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