Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 18 April 2025.

INSIGHT: China SM feedstocks, end-products outlook clouded by US tariffs
By Aviva Zhang 17-Apr-25 12:18
SINGAPORE (ICIS)–Escalating US-China trade tensions have driven significant fluctuations in China’s styrene monomer (SM) market, with feedstock import costs and constraints on end- products exports to continue to affect the market.

INSIGHT: ICIS cuts April Asia chemical forecast as recession fears hit global market
By Ann Sun 17-Apr-25 12:0
SINGAPORE (ICIS)–Uncertainty surrounding US tariff policies and the potential for a global recession continues to weigh on global oil prices, projecting a decline in chemical prices as a consequence. The knock-on effect on end markets, coupled with conservative business sentiment, will shape the price trend.

Asia petrochemicals slump as US-China trade war stokes recession fears
By Jonathan Yee 16-Apr-25 17:34 SINGAPORE (ICIS)–US “reciprocal” tariffs are prompting a shift of trade flows and supply chains as market players in Asia seek alternative export outlets for some chemicals, while overall demand remains tepid amid growing fears of a global recession.

INSIGHT: US tariff barriers put further downward pressure on the Asian aromatics market
By Jenny Yi 16-Apr-25 17:01 SINGAPORE (ICIS)–The macroeconomic repercussions from the escalating US-China trade war and potential for reduced end-market demand are expected to exert additional pressure on Asian aromatics markets.

CHINAPLAS ’25: Asia polyolefin players gather for clarity amid US trade war
By Jackie Wong 16-Apr-25 14:34
SINGAPORE/SHENZHEN, China (ICIS)–Polyolefin market players from Asia are gathering in China this week for an annual industry event under a cloud of uncertainty as the US embarks on a trade war that could potentially redefine trade flows in the region.

China Q1 GDP growth at 5.4%; outlook dims amid trade war with US
By Nurluqman Suratman 16-Apr-25 12:31 SINGAPORE (ICIS)–China’s economy expanded by 5.4% year on year on the first quarter, unchanged from the previous quarter, official data showed on Wednesday, but the world’s second-biggest economy is generally expected to weaken due to the tit-for-tat trade war with the US.

INSIGHT: Asia C2 awaits tariff response from Chinese ethane crackers
By Josh Quah 16-Apr-25 12:00
SINGAPORE (ICIS)–Asia ethylene markets have settled into a disquieting calm belying the tumult of the past 10 tariff-packed days. The spotlight is now sharply on a segment of players – crackers that crack ethane into ethylene – that may have an impact on the import-export market depending on their response to the US-China trade war.

INSIGHT: China propylene supply to fall amid trade tensions with US
By Seymour Chenxia 15-Apr-25 14:4
SINGAPORE (ICIS)–Escalating US-China trade tensions are expected to raise production cost for Chinese propane dehydrogenation (PDH) plants and weaken overall domestic demand for propylene (C3) at the same time.

Singapore slashes 2025 GDP growth on escalating US-China trade war
By Jonathan Yee 14-Apr-25 12:06
SINGAPORE (ICIS)–Singapore’s Ministry of Trade and Industry (MTI) on Monday cut the country’s 2025 GDP growth forecast to 0-2% from a previous 1-3%, citing escalating US-China trade tensions and the impact of reciprocal tariffs on global trade.

INSIGHT: China-US trade war to hurt NGL trades both ways
By Lillian Ren 14-Apr-25 14:39
SINGAPORE (ICIS)–As one of the largest petrochemical producers globally, China plays a vital role in taking in US’ natural gas liquids (NGLs) such as ethane, propane and butane for propylene and ethylene production. High tariffs are expected to rule out US NGLs products from China market, which, in turn, will hurt buyers and producers in both countries.

INSIGHT: China new energy storage capacity to surge by 2030
By Anita Yang 14-Apr-25 16:19
SINGAPORE (ICIS)–New energy storage plays a crucial role in ensuring power balance in China, especially in effectively addressing the intermittent issues of new energy generation. It helps alleviate the dual pressures of power supply security and consumption.