Asia top stories: weekly summary

26 May 2014 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 23 May 2014

Focus: Asia naphtha prices heading south on increased LPG usage
Asia's naphtha prices may slump owing to renewed interest of cracker operators in using more liquefied petroleum gas (LPG) as alternate, partial feed, traders said

Focus: Thailand martial law weighs on petrochemical market sentiment
Buyers of petrochemicals in Thailand have kept to the sidelines on Tuesday following a military declaration of martial law to quell a possible escalation of months’-long political unrest in the southeast Asian nation, industry sources said

China encourages private investment in major petchem projects
China is encouraging more private investments in three major petrochemical projects proposed by state-owned energy firms, as part of a reform to accelerate the privatisation of its economy, the National Development and Reform Commission (NDRC) announced

Focus: SE Asian benzene prices stay firm as supply low for June lifting
Southeast Asian (SEA) benzene prices remain firm as availability of spot supply from SEA producers for June loading is expected to be limited because of plant shutdowns and sales commitment overseas, market players

Focus: India HDPE demand to grow on infra projects of new government
India’s demand for high density polyethylene (HDPE) could spike towards the fourth quarter, when its new government is expected to pursue infrastructure projects, industry sources said

Focus: Asia PS drifts lower on weak styrene market, poor demand
Asia polystyrene (PS) prices continued to drift lower as a dearth of demand and poor performance in the upstream styrene monomer (SM) sector weighed on the market, traders said

Thai petchem shares slump after military takeover of government
Shares of major petrochemical firms in Thailand slumped on Friday morning, after the country’s army chief, General Prayuth Chan-ocha, seized control of the government on Thursday and declared himself as the acting prime minister

Focus: Supply shortages, currency issues impact Egypt PE,PP markets
Egyptian polyethylene (PE) and polypropylene (PP) markets are being impacted by supply shortages arising both from fewer imports entering the country and reduced supplies from local producers, sources said

By Staff Reporter