Asia top stories: weekly summary
ICIS Editorial
21-Apr-2014
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle east for the week ended 18 April 2014
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Focus – China melamine export prices hit
record low; outlook mixed
China’s melamine export
prices fell below $1,000/tonne in mid-April because of supply
glut and weak downstream demand, but the overall outlook is
mixed as some expect further declines while others think
prices will bottom out soon, industry sources said on
Friday.
Focus – Indonesia’s PP to firm in near term;
long-term outlook mixed
Indonesia’s polypropylene (PP) prices are expected to rise in
the coming weeks on tight supply and higher demand ahead of
the Muslim fasting month but long-term outlook hinges on the
outcome of presidential elections in July, market sources
Focus – Asia’s naphtha spread firms on tight
supply, healthy demand
Asia’s naphtha intermonth spread is expected to remain firm
owing to tightened supply of the light material as healthy
demand builds up at the end of the bulk of the cracker
maintenance, traders said on Thursday.
Focus – India LAB prices expected to fall on back of lower
offers
Import prices of linear alkyl benzene (LAB) in India are
expected to soften this week because of low raw material
costs and lower prices in the domestic market, market sources
said on Wednesday.
Focus – SBR prices set to rise in SE Asia on
feedstock BD price rebound
Styrene butadiene rubber (SBR) non-oil grade 1502 prices are
set to increase in southeast Asia and India because of the
rebound in feedstock butadiene (BD) prices, market sources
said.
Focus – Local prices of PP in Thailand could
fall further on weak demand
Domestic prices of polypropylene (PP) in Thailand might fall
further in the near term with the onset of the wet season
which traditionally suppresses downstream demand, market
sources said on Wednesday.
Interview – Polymer stabilisation industry
needs to expand by 2017
The global polymer stabilisation market will need a major
capacity expansion by 2017 because of normal demand growth
and new applications, said Maurizio Butti, the chief
operating officer for South Korean polymer additives producer
Songwon.
Focus – Domestic PP prices in the Philippines
may rise after Holy Week
The Philippines’ polypropylene (PP) market is subdued amid
the ongoing Holy Week festivities in the country but prices
may rise after it ends as domestic demand returns to normal,
market participants said on Tuesday.
S Arabia’s Petro Rabigh swings to Q1 2014
profit on higher sales
Saudi-based Rabigh Refining and Petrochemical Co (Petro
Rabigh) swung to a first-quarter net profit on stable
operations and higher sales volume but the earning was 66. 7
% below from the previous quarter earnings, the company said
late on Wednesday.
Focus – Qatar looks beyond gas toward petchem
to diversify economy
Qatar is expected to move away from its reliance on gas for
revenue and more towards petrochemicals and fertilizers in a
bid to diversify its economy, industry sources in the Middle
East said on Monday.
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