6 January 2014
ICIS, the leading global petrochemicals market intelligence provider, has launched a new weekly pricing report offering domestic and import PP prices for key Southeast Asian countries - Indonesia, Malaysia, Thailand, Vietnam and the Philippines. This new report complements the established ICIS Asia PP price report, which is already widely used as the industry benchmark across Asia.
Current market developments already reflect the increasing importance of Southeast Asia in the global PP marketplace. Demand for PP is forecast to grow by 4.3% on a cumulative annual growth rate (CAGR) basis from 2014-2022. Global capacity is set to increase by 23.5m tonnes by 2019 – more than half of which will be built in southeast Asia.
The Association of Southeast Asian Nations (ASEAN) also actively encourages trade between neighbouring countries via the ASEAN Free Trade Agreement (AFTA), which allows zero import duty between member nations. China has already entered into a China-ASEAN Free Trade Agreement (CAFTA) with similar terms, which comes into effect in 2015 and should prompt Chinese producers to export PP to southeast Asia.
Accurate information is crucial as domestic PP prices have been more volatile than import prices (which are typically negotiated at month end). This new ICIS report offers market players previously unavailable details on the weekly price nuances of individual domestic markets in southeast Asia.
ICIS subscribers will gain significant advantages, benefiting from an independent and reliable PP price benchmark for the various domestic markets in southeast Asia as well as details of import prices by individual country for an in-depth and comparative view. Updates on the various factors influencing prices, currency issues, production news and seasonal fluctuations are also included to further enhance understanding.
By introducing dedicated Southeast Asia PP weekly coverage by key domestic countries, ICIS leads the way by offering market players the opportunity to build a more accurate and informed picture and more quickly take advantage of opportunities in the region.
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ICIS has launched a new weekly price report specifically covering the southeast Asia polypropylene (PP) markets in Indonesia, Malaysia, Thailand, Vietnam, and the Philippines. Offering weekly coverage of the domestic markets by country, this report complements the established ICIS Asia PP price report and offers you deeper insights into southeast Asia’s domestic markets.
The new ICIS Southeast Asia PP price report includes: