Asia top stories - weekly summary

25 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 22 March 2013.

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Focus China SBR prices under pressure on oversupply, weak demand
China styrene-butadiene-rubber (SBR) prices, on a downtrend since last month, are likely to remain under pressure as a result of oversupply and poor demand from downstream tyre makers, industry sources said on Monday.

Focus China’s base oils prices to rise in Q2 on falling supply – sources
China’s Group I and II base oils prices are expected to increase in the second quarter of 2013 amid falling supply and higher import costs, market sources said.

Focus Asia isomer-grade xylene on a downtrend amid weak demand
Isomer-grade xylene prices in Asia continued their downtrend for the third week running as a result of oversupply and weak demand in the downstream paraxylene (PX), purified terephthalic acid (PTA) and polyester sectors, industry sources said on Tuesday.

China may impose polysilicon import penalty tariff by early April
China may impose a penalty tariff on polysilicon imports from the US and South Korea starting from early April, market sources said on Wednesday.

East China butyl-A prices fluctuate as Jiangsu Jurong adjusts offers
Butyl acrylate (butyl-A) prices in east China have been volatile since last Thursday on the back of offer price adjustments by Jiangsu Jurong Chemical, a market source said on Wednesday.

Focus Asia PS prices decline on poor demand, weak sentiment
Asia polystyrene (PS) prices remain on a downtrend as a result of  waning demand amid sentiment clouded by Eurozone worries sparked by Cyprus bank levy crisis, producers and traders said on Thursday.

Focus Asia EPDM prices seen flat in April on weak sentiment
Asia’s ethylene propylene diene monomer (EPDM) prices are likely to remain flat in April because of weak demand and bearish market sentiment, industry sources said on Thursday.

Focus Asia’s OX prices fall on bearish upstream, co-product markets
Asia’s orthoxylene (OX) spot prices have fallen for five straight weeks, suppressed by bearish sentiment in the upstream energy and co-product paraxylene (PX) markets, market players said.

Focus Asian naphtha to fall on weak plastics demand, lower cracker rates
Asia’s naphtha prices are expected to extend their losses, because of cuts in cracker run rates in northeast Asia, the weakening plastics demand and rising supply of the petrochemical feedstock, traders said on Friday.

Iranian Group I exports demand up; prices to rise on tight supply
Demand for Iranian Group I base oils export cargoes is firmer amid a lack of spot availability, with prices expected to rise in the coming weeks, market sources said on Monday.

Saudi Arabia’s SABIC shuts Jubail No 2 SM unit unexpectedly
SABIC has unexpectedly shut its 500,000 tonne/year SADAF No 2 styrene monomer (SM) unit at Jubail, Saudi Arabia, on 19 March, a market source said on Wednesday.

By: Staff Reporter
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