Asia top stories: weekly summary

14 July 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 11 July 2014.

Focus: Asia epoxy resins ease off 15-month high on buyers' resistance
Spot liquid epoxy resins (LER) prices in Asia eased off 15-month highs on buyers' resistance, after a strong run-up in recent weeks that was driven by rising costs of feedstock bisphenol-A (BPA) and gains in the upstream benzene market, industry sources said.

Focus: India IPA prices to be under pressure on ample imports
India’s isopropanol (IPA) prices are likely to remain under pressure as a result of arrival of bulk of imports in weeks ahead, market sources said.

Focus: India polymer production woes exacerbate supply shortage
India is grappling with short supply of polyethylene (PE) and polypropylene (PP) given less volumes coming out of the Middle East, aggravated by production disruptions at the country’s polymer facilities, industry sources said.

Focus: Asia PS sellers cut Philippines supply amid port congestion
Asia polystyrene (PS) sellers are reluctant to sell to the Philippines because of port congestion in the capital Manila and fewer cargoes are expected to be moved there in the near future as the situation is expected to persist for some time, market sources said.

Focus: SE Asia PE inventories to stay tight in July; prices may rise
Inventories of polyethylene (PE) in southeast Asia are expected to remain tight throughout July because of some production problems within the region, and with limited volumes coming from the Middle East, market participants said.

Asia brightstock edges higher on healthy demand
Asia’s brightstock spot prices continued to climb on the back of healthy demand amid snug availability of spot cargoes.

Japan's Mitsubishi Corp enters Myanmar tyre business
Mitsubishi Corp will set up a joint venture in Myanmar to promote sales of Bridgestone tyres into the southeast Asian country, the Japanese firm said.

Focus: Asia POM trades to dip through August on seasonal demand lull
Spot trades of polyoxymethylene (POM) or polyacetal in Asia may fall 5-10% in July and August, with prices likely to be stable amid a seasonal lull in demand, market sources said.

Saudi Arabia port congestion to worsen from next week
Port congestion in Saudi Arabia is expected to worsen from next week ahead of the Muslim festival of Eid-ul-Fitr in late July, industry sources said.

By Staff Reporter