Asia top stories - weekly summary

Source: ICIS News

2017/10/23

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle East for the week ended 20 October 2017.

GCC PMDI prices stable amid lack of firm offers Spot import prices of polymeric methyl di-p-phenylene isocyanate (PMDI) in the Gulf Cooperation Council (GCC) are expected to remain firm near record highs amid the reduced availability of cargoes for the region, market sources said late on Thursday.

India PVC prices fall on weak demand; outlook uncertain Spot polyvinyl chloride (PVC) prices in India slumped this week amid a seasonal demand lull, with near-term outlook weighed down by weakness in the key China market.

Asia PS under pressure of weak demand Polystyrene (PS) prices in Asia may drift lower if buying interest stays tepid, market participants said on Friday.

China domestic PP price uptrend intact on restocking Domestic spot polypropylene (PP) prices in China may remain on a general uptrend, despite Thursday’s decline, as restocking activities are expected to continue up to the end of the month.

China ACN at five-year high; may retreat on softened demand China’s domestic acrylonitrile (ACN) prices may retreat on softened demand after hitting a near five-year high on the back of tight supply, industry sources said.

Asia MEG to snap 4-week losses on restocking, better sentiment Asia’s spot monoethylene glycol (MEG) prices are likely to snap four weeks of losing streak amid restocking activities, healthy performance of downstream polyester sectors and improved market sentiment.

China may only have one ethane cracker coming online before 2020 China is exploring imported ethane as one of the options for a wave of new steam crackers that are based on lighter feedstocks replacing naphtha but it is likely to see just one ethane cracker on-stream by 2020.

Asia LER may extend gains amid strong demand from China Asia liquid epoxy resins (LER) spot prices are likely to continue on an uptrend on feedstock gains and strong demand from China.

India SBR prices may fall lower in Nov as tyre makers retreat on weak NR price India styrene butadiene rubber (SBR) prices may fall further in November because of the prevailing weak natural rubber (NR) price and lower feedstock butadiene (BD) and styrene monomer (SM) prices.

NE Asia propylene may extend falls as China supply grows Propylene spot prices in northeast Asia may continue to fall on expectations of increased supply in the key China market.