Asia top stories: weekly summary

09 June 2014 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 6 June 2014.

Focus: Asia’s benzene prices hit two-month high on short covering
Asia spot benzene prices rose to a two-month high on Thursday, following active buying for July cargoes amid an already tight spot availability of South Korean and Japanese lots, but long term outlook was not clear, market players said.

Focus: Asia’s ABS prices likely to remain weak on slow demand
Asia’s acrylonitrile-butadiene-styrene (ABS) prices are likely to remain weak amid persistently slow demand in the region and slippages in feedstock styrene monomer (SM) values, traders and producers said.

Focus: Asia PBT flat as sellers keep prices firm despite weak demand
Spot polybutylene (PBT) prices in Asia are unlikely to snap from stagnation as sellers are keeping offers firm despite weak demand, market sources said.

Focus: 
China's PTA makers push for cost-linked formula to stem losses
Several China’s purified terephthalic acid (PTA) makers are currently pushing for a cost-linked contract formula within the country to stem their losses, industry sources said.

Focus: Asia’s ABS prices likely to remain weak on slow demand
Asia’s acrylonitrile-butadiene-styrene (ABS) prices are likely to remain weak amid persistently slow demand in the region and slippages in feedstock styrene monomer (SM) values, traders and producers said.

Focus: Asia’s naphtha down on weak demand, rising Indian exports
Asia’s naphtha prices are heading south amid softer blending demand in Europe and rising naphtha exports from India, traders said.

Asia styrene remains on downtrend amid weak downstream markets
Spot styrene monomer (SM) prices in Asia continued to trend lower this week because of continued weakness in the downstream styrenic resins market, traders said.

Focus: Iran petchems hopeful sanctions to be fully lifted in late July
Petrochemical players in Iran are hoping for a full lifting of international sanctions after 20 July, upon determination by the six world powers that the country has fully complied with limits set on its uranium enrichment program, and is deemed not developing a nuclear weapon, industry sources said.

By Staff Reporter