Asia top stories: weekly summary
ICIS Editorial
16-May-2016
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 13 May 2016.
Japan’s Mitsui full-year profit grows 33% on strong
petchems
Mitsui Chemicals reported a 33%
year-on-year increase in year-to-March 2016 net profit to yen
(Y) 23bn ($211m), aided by strong earnings from its
petrochemicals business, the Japanese producer said on
Friday.
Chemical tanker freight rates on steady course
As mid-2016 draws closer, the market’s attention now shifts
towards the second half and the new year beyond.
SE Asia freight rates under downward pressure as
vessels wait
Southeast (SE) Asia freight rates are
expected to come under downward pressure as ship owners with
vessels available for loading in second-half May are finding
it difficult to find cargoes to move, industry sources said
on Thursday.
Asia SM market bearish on tepid demand; China
inventory falls
Styrene monomer (SM) prices in Asia
may continue to fall on poor performance from downstream
markets, as China’s economic outlook remains weak, industry
sources said on Thursday.
China BDO likely stable-to-firm in near term on
strong PO
Spot import prices of 1,4-butanediol (BDO)
into China may either remain stable or increase in the near
term amid gains in the feedstock propylene oxide (PO) market,
industry players said on Thursday.
China soda ash softens on rising supply, weak downstream
market
Soda ash price discussions in Asia are softening, as supply
improved in the key China market while demand from downstream
sectors remained weak, industry sources said on Wednesday.
Indian phenol importers’ outlook weakens on supply
gains
An anticipated gain in forward supply is sustaining a subdued
outlook among participants in the Indian phenol market and
weighing on domestic prices, market sources said on
Wednesday.
Asia nylon chip market finds support from firm capro
prices
Spot prices of nylon chips in Asia are expected to be stable
in the coming weeks, supported by firm upstream
prices despite weak demand, market sources said on
Wednesday.
Asia PC to see limited price swings; may track BPA
market
Asia’s polycarbonate (PC) prices will likely be supported by
regional demand, with movement likely to track the upstream
bisphenol-A (BPA) market, industry sources said on Wednesday.
China MIBK producers shut plants on poor
margins
China’s methyl isobutyl ketone (MIBK) facilities have mostly
been taken off line, with only one left running, as producers
attempt to stem losses caused by rising costs of feedstock
acetone, market sources said on Wednesday.
India may raise PX exports upon Q4 start-up of Jamnagar
plant
India may turn into a net exporter of paraxylene (PX) late
this year, with the expected start-up of Reliance
Industries’ 2m tonne/year facility in Jamnagar in the fourth
quarter, industry sources said on Tuesday.
Asia SBR under pressure from falling natural rubber
prices
Spot styrene butadiene rubber (SBR) prices in Asia are under
downward pressure as buyers retreat to the
sidelines amid a continued slump in values of rival product
natural rubber (NR), market sources said on Tuesday.
Southeast Asia MMA to stay near six-month highs on tight
supply
Spot methyl methacrylate prices (MMA) in southeast Asia are
likely to stay near six-month highs on the back of limited
spot cargo availability and firm downstream polymethyl
methacrylate (PMMA) market, industry sources said on
Tuesday.
Rising supply may limit China acetone price
upside
Rising supply may limit the further upside to acetone prices
into China, importers said on Tuesday.
Philippine ethanol imports to grow in Q3 on lower local
supply
The Philippines’ ethanol imports are set to rise in July to
September following an announcement that local producers will
supply 10.7m litres less ethanol to major domestic oil
companies quarter on quarter, market sources said on
Monday.
China’s toluene import demand to stay weak amid ample
inventories
China’s toluene import demand is expected to stay weak amid
ample shoretank inventories and poor gasoline blending
demand, several market players said on Monday.
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