Asia top stories - weekly summary

15 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 12 April 2013.

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Interview Pakistan’s Engro starts debottlenecking process at PVC units
Engro Polymer & Chemicals has started the debottlenecking process at its polyvinyl chloride (PVC) plants at Port Qasim that will increase the units’ production capacity by about 13% in July, the top executive of the Pakistan-based company said on Monday.

Focus Asia nylon chips producers cut plant run rates on poor sales
Nylon (polyamide) chips producers in Asia are being forced to trim operating rates at plants because of weak sales and declining product prices, market players said on Wednesday.

Focus Asia butac may halt decline on stable feedstock cost outlook
Spot butyl acetate (butac) prices in Asia may stop falling on the back of a stable outlook for the cost of feedstock n-butanol (NBA), despite weak regional demand, market sources said on Thursday.

Focus Asia cracking demand for butane eases on naphtha price fall
Demand for butane from Asian cracker operators weakened this week as prices of naphtha, which is a widely preferred feedstock for petrochemical production, are on a downtrend, industry sources said on Thursday.

Focus China PE, PP import prices may weaken in end April/early May
Asian and Middle Eastern polyethylene (PE) and polypropylene (PP) producers are expected to cut their offers into China for May cargoes late this month amid weak buying sentiment, industry sources said on Friday.

Focus Asia PVC to soften in near term on weak China demand
Spot polyvinyl chloride (PVC) prices in Asia may still soften in the weeks ahead on sluggish demand in the key market China, but downward pressure will be tempered by firm values of feedstock vinyl chloride monomer (VCM), industry sources said on Friday.

300bn worth of opportunity open for Mideast plastics industry
Some $300bn (€231bn) worth of opportunity is open for the Middle East plastics industry, largely from the building and construction sectors, an official from Saudi petrochemical giant SABIC said on Monday.

Focus Iranian base oil prices likely to rise on tighter supply
Iranian Group I base oil prices are on an uptrend amid tighter spot availability as Iranian producers had cut their productions ahead of the Iranian New Year holiday, traders said on Tuesday.

Interview Ethane feedstock hikes will erode Saudi advantage – NATPET
Saudi Arabia’s petrochemical competitive advantage will be significantly eroded if ethane feedstock prices are increased, said Jamal Malaikah, president and chief operating officer of National Petrochemical Industrial Co (NATPET).

Bahri subsidiary buys out Odfjell in Saudi shipping joint venture
Saudi Arabia’s National Chemical Carriers Ltd (NCC) will buy out its 50:50 joint venture partner – Norwegian logistics firm Odfjell – in the NCC Odfjell Chemical Tankers JLT (NOCT) by June, the Saudi firm’s parent Bahri said late on Tuesday.

By: Staff Reporter
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