Asia top stories- weekly summary

05 August 2013 00:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 2 August 2013

Focus: Asia BD rebound may be short-lived on oversupply, weak demand
Spot butadiene (BD) prices in Asia have rebounded but may not be able to sustain gains for long, with fresh supply hitting the market in September, while demand from the downstream synthetic rubber (SR) sector is still weak

Focus: High Asia EPS prices deter buyers; sellers bring down offers
Spot offers for expandable polystyrene (EPS) resins in Asia have fallen this week as buyers are posing a stiff resistance to continued price spike amid weak demand

Focus: China’s ethanolamines prices may rise on tight cargo availability
China’s ethanolamines prices in the domestic market are likely to nudge higher on tighter availability of both imported material and locally produced supply

Focus: Asia MEG may extend gains as market players stock up on supply
Asia’s spot monoethylene glycol (MEG) prices have spiked 19% in July and look set to continue heading north, with traders stocking up on supply

Focus: Asia’s naphtha spread, crack values to weaken on swelling supply
Asia’s naphtha backwardation and crack-spread values are set to narrow further amid a burgeoning pool of supply that will outpace the current stable-to-weak demand in the region

Saudi port congestion sends African buyers elsewhere to seek PE, PP
The severe congestion at Jeddha port in Saudi Arabia, resulting in delays of up to 2-3 months, is prompting African buyers of polyethylene (PE) and polypropylene (PP) to seek volumes from other regions

By: Staff Reporter
+44 20 8652 3214

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