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 24 July 2015.

Asia naphtha-ethylene spread may stay wide at $500-600/tonne
Asia’s naphtha-to-ethylene price spread is expected to remain wide at $500-600/tonne amid slowing petrochemical demand and a supply glut of the open-spec material in the region, market participants said on Friday.

Asia ABS stabilises but falling BD weighs on market
Asia’s acrylonitrile-butadiene-styrene (ABS) resin prices appeared to have stabilised this week after recent declines, but the market is likely to remain under pressure from tumbling butadiene (BD) values, traders said on Wednesday.

China base oils imports to remain weak through to August
China’s imports of Group II base oils may remain weak and keep prices soft through to August given weak domestic demand in the downstream lubricants sector, industry sources said on Wednesday.

China SBR makers shut plants to stem losses, price slide
China’s styrene butadiene rubber (SBR) producers hurting from poor margins have shut their facilities to stem losses in the current weak market, while hoping to arrest the slide in their product prices, industry sources said on Wednesday.

China acetone sinks to a new low; buyers see limited downside
The downside to acetone prices in China may be limited as record-low prices and weak margins prompted producers to curtail output, market participants said on Tuesday.

Asia BPA slumps to seven-month low; outlook murky
Spot bisphenol-A (BPA) prices in Asia hit a seven-month low and may continue falling in the near term on softening import demand from China, market sources said on Monday.

Iran ramps up petrochemical output to meet Europe demand
Iran has started ramping up production of petrochemicals on renewed buying interest from its key Europe market, a week since a landmark nuclear deal was clinched after protracted negotiations, industry sources said on Thursday.