Asia top stories: weekly summary

21 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 18 July 2014.

Focus: China ECH makers keep output low despite glycerine price fall
China’s epichlorohydrin (ECH) producers intend to keep running their plants at reduced capacity to prevent prices from falling further, despite declines in cost of feedstock glycerine, market sources said.

Focus: Asia naphtha heads south on rising supply, soft demand
Asia’s naphtha prices may fall further as supply is rising amid softening demand, with a major regional cracker due for turnaround in August, traders said.

Focus: Asia’s LAS market seen stable this month on weak demand
Asia’s linear alkylbenzene sulphonate (LAS) market is unlikely to see any price increase in July as demand remains weak during the Muslim fasting month of Ramadan, market sources said.

Focus: Asia SBR under pressure from influx of deep-sea supply, NR fall
Styrene butadiene rubber (SBR) prices in Asia may come under pressure in the weeks ahead because of ample availability of spot material amid an influx of deep-sea cargoes into the region, market sources said.

Focus: Asia 2-EH in stalemate on poor downstream, higher offers
Asia’s 2-ethylhexanol (2-EH) market is likely to remain in a stalemate in August as well because buyers and sellers are unable to settle amid weak demand while offers remains stable-to-firm, market sources said.

Focus: NE Asia NBA buy-sell gap may narrow if domestic prices rise
The gap between buyers and sellers of n-butanol (NBA) in northeast Asia may narrow in the short-term if yuan-denominated prices continue to extend gains, market sources said.

Focus: Asia adipic acid spikes on feedstock costs; demand still weak
Spot adipic acid prices in Asia have steadily risen since mid-April on the back of rising cost of feedstock, but tepid demand could soon put a lid on surging prices of the material, industry sources said.

Focus: Etac prices in Asia may extend gains on feedstock rebound
The prices of ethyl acetate (etac) in Asia may extend gains on the back of a rebound in feedstock acetic acid prices in China, market sources said.

Focus: China crude glycerine falling on weak demand, rising supply
China’s crude glycerine market faces a downtrend as a result of weak demand and ample supply but some players expect that prices may bottom out in a few weeks, industry sources said.

Focus: Asia ACN gains 5% over four months; may sustain uptrend
Spot acrylonitrile (ACN) prices in Asia rose by 5% over a four-month period on the back of tight supply, and this uptrend is expected to be sustained in the near term, industry sources said.

Focus: Rising supply weighs on China PP, PE; C2, C3 may support prices
China’s growing polymer production capacity is expected to weigh on market prices of polyethylene (PE) and polypropylene (PP) in the near term, but rising costs of feedstocks ethylene (C2) and propylene (C3) could keep prices of plastics products firm, market sources said.

Saudi Arabia's Petro Rabigh swings to Q2 profit on higher prices
Rabigh Refining and Petrochemical Co (Petro Rabigh) posted a second-quarter net profit of Saudi riyal (SR) 172m ($46m), reversing a loss of SR236.7m in the same period of 2013, boosted by higher prices and sales volumes of its petrochemical products, the Saudi Arabia-based producer said.

By Staff Reporter