Asia top stories - weekly summary

01 April 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 28 March 2013.

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Sinopec's 2012 net profit falls; sets up HK joint venture in 2013

Chinese petrochemical major Sinopec's net profit for the full fiscal year of 2012 decreased by 11.4% year on year to yuan (CNY) 63.5bn ($10.2bn) from a year earlier amid slowdowns in global economic growth, it said on Monday.

Focus - Asia BD prices near bottom but may fall further on ample supply
Asia butadiene (BD) prices are near bottom but may still have room to fall lower because of weak demand and abundant supply in China, industry sources said on Tuesday.

Focus - Methanol in India’s west coast to be driven by Iranian supply

Methanol prices in India’s west coast will be mainly driven by Iranian supply of the material after spiking this week on the back of low inventory levels, local market players said on Wednesday.

Focus - Asia EPS offers higher on buoyant feedstock SM
Asia expandable polystyrene (EPS) offers rose by around $30/tonne (€23/tonne) this week amid buoyant feedstock styrene monomer (SM) values and expectations that buying interest might revive next month, producers and distributors said on Thursday.

Japan's Feb chemical output falls by 9.9% on weak demand
Japan’s chemical production excluding pharmaceuticals fell by 9.9% year on year in February, while overall industrial production also decreased, official data from the Ministry of Economy, Trade and Industry (METI) showed on Friday.

Saudi Arabia’s Sipchem delays start-up of Jubail etac/butac plant
Saudi Arabian major Saudi International Petrochemical Company (Sipchem) could delay the start-up of its ethyl acetate (etac)/butyl acetate (butac) facility in Jubail by a month, a source close to the company said on Wednesday.

By: Staff Reporter
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