Asia top stories – weekly summary
ICIS Editorial
20-Nov-2017
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for last week.
INTERACTIVE: Singapore Oct petchem exports up
22.9%; NODX up 20.9%
Singapore’s petrochemical exports in October
rose by 22.9% year on year to Singapore dollar
(S$) 1.56bn ($1.1bn), with shipments to China
posting a 17.5% increase, official data showed
on Friday.
Asia MEG under pressure from recent fall in
energy prices
Spot monoethylene (MEG) prices in Asia are
under pressure after recent declines in crude
oil values and amid an increasingly bearish
market sentiment in key China market.
Asia BD rebounds but surplus Chinese stocks may
temper rally
Asia butadiene (BD) spot prices rebounded this
week, snapping a two-month downward spiral but
it is unclear whether it is sustainable because
of surplus BD stocks in the Chinese domestic
market.
Asia PMMA likely supported by strong MMA costs,
uptick in demand
Asia’s polymethyl methacrylate (PMMA)
discussions are likely to be supported by
strong upstream methyl methacrylate (MMA) costs
and an uptick in demand in the near term,
market players said on Thursday.
South China methanol hits year-to-date high,
uptrend to continue
Spot methanol prices in south China are on an
uptrend since late October and look set to
continue rising driven by tight spot
availability and stable downstream demand.
China acetic acid seen stable-to-firm on tight
supply
China’s acetic acid prices are expected to be
on a stable-to-firm trend for the rest of the
month, backed by tight availability of spot
domestic cargoes amid strong demand.
Malaysia’s PETRONAS Chemicals 2017 profit
growth seen at 35-41%
PETRONAS Chemicals Group’s (PCG) full-year net
profit is expected to post a strong
double-digit growth to a record high, largely
boosted by earnings from its fertilizer
business following the start-up of the
Malaysian producer’s Sabah ammonia urea (SAMUR)
project in May.
Asia LER outlook bearish after recent spike;
demand to weaken
Spot liquid epoxy resins (LER) prices in
northeast Asia are stabilising following four
weeks of uptrend, but may be weighed down in
the near term as buying appetite in the key
export markets of southeast Asia, Europe, the
Middle East and US is expected to weaken.
Tough times loom ahead for surfactants
producers
Surfactants producers in Asia and elsewhere in
the world may be in tough times on account of
lackluster world economic growth, global
overcapacity and an increasing regulatory
environment, especially in China.
Asia SBR faces downward pressure from natural
rubber, BD slump
Styrene butadiene rubber (SBR) prices in Asia
are facing downward pressure in the near term
from continued price weakness of rival product
natural rubber (NR) and slumping values of
feedstock butadiene (BD).
Asia ACN snaps four-month uptrend; may soften
near term
Asia’s acrylonitrile (ACN) prices fell for the
first time since early July, tracking losses in
the key China market, which is bracing for
increased supply when a new domestic plant
starts up.
China domestic PP, PE prices rebound on supply
concerns
China’s domestic polypropylene (PP) and
polyethylene (PE) prices have rebounded and
could rise further in the near term on concerns
over an expected tightening of supply in the
northern Shaanxi province.
NE Asia propylene market outlook bearish
despite recent gains
Spot propylene prices in northeast Asia may
remain weak as recent gains are unlikely to be
sustained given expectations of longer supply
in November.
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Contact us
Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.
Contact us to learn how we can support you as you transact today and plan for tomorrow.