Asia top stories: weekly summary

SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 23 May 2015.

Focus – India SBR may halt price downtrend on rising BD costs
Styrene butadiene rubber (SBR) prices in India may be propped up by rising costs of feedstock butadiene (BD) although the market is awash with supply, market players said on Friday.

Focus – Volatile SM market dampens demand for Asia styrenic resins
Demand for styrenic resins in Asia tapered off this week as buyers were put off by volatile prices of feedstock styrene monomer (SM), market sources said on Thursday.

Focus – China PE, PP may fall further on rising supply, weak demand
China’s polyethylene (PE) and polypropylene (PP) prices may continue falling as availability of spot supply will increase late this month with no expected recovery in demand, industry sources said on Thursday.

Focus – Asia-Pacific sulphuric acid spot buying increases ahead of maintenance
A flurry of spot buying activity was seen in the Asia-Pacific sulphuric acid market this week ahead of planned maintenance, a key industry event and to cover contract commitments, but according to sources product availability may be short-lived.

Interview – JX Nippon Oil to complete study on Vietnam refinery mid-2016
Japan’s JX Nippon Oil & Energy plans to complete a preliminary study for a planned joint venture 200,000 bbl/day refinery project in Khanh Hoa province, Vietnam, around the middle of next year, a senior company executive said.

Focus – Pakistan ethanol exports to China tighten supply to Europe
China has pulled in significant amounts of Pakistani ethanol in the second quarter of 2015, thought by sources to be one of the first times product has flowed in this direction.

Focus – Indian phenol buyers’ outlook weakens on rising supply
Indian phenol buyers’ market outlook has weakened because of growing availability of cargo from rising Chinese phenol capacity, market participants said on Tuesday.

Interview – PCG to finalise Malaysia RAPID project line-up by end-‘15
Malaysia’s PETRONAS Chemicals Group Berhad (PCG) is planning to finalise investment plans for the Refinery and Petrochemicals Integrated Complex (RAPID) in southern Johor state by the end of this year, the company’s president and CEO said on Tuesday.

Concentrate on boosting economic growth: Malaysia PM Najib
Stimulating economic growth to boost demand should be prioritised over finding ways to curb the global oil surplus, which has been depressing crude prices, Malaysian Prime Minister Abdul Razak Najib said on Monday.

Focus – Mideast petchem players cautious after Persian Gulf incident
Petrochemical players in the Middle East have turned cautious over shipments that pass through the Persian Gulf, days after Iran fired warning shots at a Singapore-flagged commercial ship plying the Straits of Hormuz, industry sources said on Thursday.

Focus – Mideast PE, PP sellers eye south Asia on weak China market
Middle East polymer suppliers are more keen to sell to south Asia, where polyethylene (PE) and polypropylene (PP) prices are at least $80/tonne higher than in their key China market, industry sources said on Wednesday.

Interview – SABIC eyes chemical deliveries by rail to cut emissions
Saudi Arabian producer SABIC plans to deliver chemicals and polymers to its customers through rail transport as a means to reduce its carbon footprint, a company executive said.