Asia top stories - weekly summary

27 May 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 24 May 2013.

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Focus - Asia’s PA prices may stabilise after weeks of decline
Phthalic anhydride (PA) prices in Asia may stabilise following weeks of decline because of weakness in feedstock orthoxylene (OX) prices and continued slow demand from the downstream sectors, market sources said on Friday.

Thai PTT starts feasibility study on $27bn Vietnam petchem project
Thailand’s PTT Group has started a feasibility study on its proposed $27bn (€21bn) refinery and petrochemical project in Vietnam after securing approval from the Vietnamese government, a company spokesperson said on Thursday.

Interview - Italy's Versalis to strengthen Asia elastomers business - CEO
Versalis' ongoing business strategy will focus on the strengthening of its elastomers business in Asia, which is expected to see demand growth of 4-6% over the next five years, the CEO of the company said on Wednesday.

Focus - Asia EPS may gain towards June on seasonal pick-up in demand
Demand for expandable polystyrene (EPS) in Asia is expected to pick up late this month and lead to higher prices of the polymer after stagnating at around $1,840/tonne (€1,435/tonne) levels since mid-March, market sources said on Wednesday.

Focus - China propane imports to surge on new PDH projects
China will need to import 11.91m tonnes/year of propane to ensure feedstock supply for its 17 new propane dehydrogenation (PDH) projects, about half of which are due to come on stream by 2015, industry sources said on Tuesday.

Interview - CHINAPLAS '13: SABIC says no restructuring plan for Asia ops
Saudi Arabia’s petrochemical giant SABIC has no plans to rationalise its operations in Asia, where demand growth is still strong compared with Europe's, a senior company executive said on Monday.

Focus - CHINAPLAS '13: Restocking to buoy up China PE, PP in Q3
China’s polyethylene (PE) and polypropylene (PP) import prices may increase in the third quarter as buyers are expected to replenish their stocks on the back of improved market sentiment, industry sources said on Monday.

CHINAPLAS '13: Muntajat to leverage on QAPCO, Qatofin structures
Qatar’s Muntajat will carefully evaluate how to leverage on the structures in Qatar Petrochemical Company (QAPCO) and Qatofin, as it takes these two companies into the centralised marketing, sales and distribution system, a senior company executive said on Monday.

By: Staff Reporter
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