Asia top stories - weekly summary

08 April 2013 02:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 5 April 2013.

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Focus South Asian PS exports in April limited amid tight SM supply
Polystyrene (PS) exports from the south Asian markets of India and Pakistan are likely to be limited in April as producers faced a severe shortage in their supply of feedstock styrene monomer (SM) through March, industry sources said on Monday.

Focus S Korea BD producers tap arbitrage window to the US
The recent plunge in butadiene (BD) prices in Asia has opened up the arbitrage window, prompting South Korean producers to ship out their surplus stocks to the US in a bid to stem the price falls, industry sources said on Tuesday.

Focus Asian ACN prices fall by 8.7% in March; outlook remains bearish
Asia’s acrylonitrile (ACN) prices fell by 8.7% on average in March on the back of weak demand and increasing supply, with the market outlook set to remain bearish in the near term, industry sources said on Tuesday.

Focus Asia EPS makers lower offers to stoke buying
Asia expandable polystyrene (EPS) suppliers have lowered offers in a bid to stimulate buying momentum but end users have not stepped in yet, though demand is expected to resume from the construction industry later in this quarter, market sources said on Wednesday.

Focus China may further delay penalty tariff on imported polysilicon
China is seen pushing back once again its decision to impose a penalty tariff of around 30% on imported polysilicon from the US and South Korea, market participants said on Wednesday.

Focus China methanol usage to surge as new fuel standards take effect
China’s methanol consumption will get a strong boost with the expected implementation of a new fuel blending standards in the country by the end of the year, industry source said on Thursday.

Focus Asia naphtha faces pressure from deep-sea supply, poor margins
Asia’s naphtha prices will continue to face downward pressure from abundant deep-sea supply and eroded petrochemical margins, traders said on Friday.

Thailand's IVL in talks to build PX plant in the Middle East
Thailand-listed polyester maker Indorama Ventures Ltd (IVL) is in talks with a state-owned oil firm in the Middle East amid plans to build and operate a paraxylene (PX) production unit in the region, a company spokesperson said on Tuesday.

Focus Mideast PET hits 14-week low on declining feedstock costs
Prices of polyethylene terephthalate (PET) in the Middle East have plunged to a 14-week low in line with a steep decline in feedstock costs, and are unlikely to bottom out until May, market players said late on Tuesday.

By: Staff Reporter
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