Asia top stories - weekly summary

06 May 2013 03:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 03 May 2013.

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Focus: Asia’s naphtha may face downward spiral on bloated supply
Asia’s naphtha prices may be undermined on the back of bloated supply and weakening plastics demand.

Focus: Japan’s synthetic rubber exports rising with lower yen
Japanese synthetic rubber producers are beating their traditional Asian rivals by capitalising on a sharply depreciated yen to increase their exports in Asia.

Focus: Deep-sea inflows to boost Asia SM supply; prices may fall
Asia will receive huge volumes of deep-sea styrene monomer (SM) cargoes by mid-year, easing tight supply in the region that has been supporting prices since the start of the year.

Focus: Asia ABS prices show signs of bottoming out
SINGAPORE (ICIS)--After some two months of downtrend, Asia acrylonitrile-butadiene-styrene (ABS) prices could be bottoming out supported by high feedstock values.

Focus: Asia's PVC prices to soften further following eight-week decline
Asia’s polyvinyl chloride (PVC) prices are poised to soften further in the near term following a steady decline for the past eight weeks on the back of weak market sentiment and ample supply.

Focus: Asia olefins at crossroads, market divided over outlook
The Asia olefins market is currently at a crossroad, with industry players divided over the outlook  for ethylene and propylene.

Egypt hikes Suez Canal toll for oil, petrochemical tankers by 5%
Egypt’s Suez Canal Authority (SCA) has raised toll fees by 5% for oil tankers and  vessels carrying petrochemicals, while a smaller increase of 2% will apply to container ships and car carriers.

Update: Saudi Arabia's MPC halts DAP production; ammonia plant shut
Ma’aden Phosphate Co (MPC) halted production of diammonium phosphate (DAP) at Ras Al Khair in Saudi Arabia as an upstream ammonia plant at the site had to be taken off line days after the unit restarted because of technical problems.

By: Staff Reporter
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