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 13 April 2018.

Short supply and robust demand driving Asia and Middle East
Short supply and robust demand is driving Asia and Middle East polyethylene terephthalate (PET) bottle grade prices higher, according to market sources on Friday.

China domestic phenol price uptrend to continue on tight supply
China’s domestic phenol prices have been rising since mid-March on the back of tight availability of spot supply in the domestic market.

Asia VAM buyers resist Celanese’s $100/tonne price hike
Buyers of vinyl acetate monomer (VAM) in Asia were resisting the $100/tonne price hike issued by major producer Celanese, as some of them have sufficient cargoes to cover their requirements for the next two months.

China C3 uptrend to continue on tight supply, strong PP market
China’s domestic propylene (C3) prices have been rising on the back of tight supply amid ongoing plant turnarounds and strong downstream polypropylene (PP) market.

SE Asia PP falls for a fifth consecutive week, but bottom in sight
Southeast Asian polypropylene (PP) prices fell for a fifth consecutive week in early April, though some market players believe that the spot market is likely to stabilize in the weeks ahead.

Tight soda ash supply in China bolsters Q2 market outlook
Curtailed soda ash supply from China, amid a spate of plant shutdowns during the peak turnaround season from March to June, may continue to bolster the second-quarter market sentiment.

China melamine in downtrend amid muted demand
China’s export offers for melamine are softening, and the downtrend may continue if demand fails to pick up soon.

Asia ABS may rebound on tight supply and rising feedstock
Asia acrylonitrile-butadiene-styrene (ABS) is likely to bottom-out and may rebound soon because of an anticipated pick-up in demand amid limited spot availability.

SE Asia PA hits 3-year high; uptrend to continue on short supply
Southeast Asia’s phthalic anhydride (PA) prices have breached $1,200/tonne to reach a three-year high, and may continue their uptrend amid short supply.

Asia BD may extend falls on poor demand from downstream SR market
Spot butadiene (BD) prices in Asia may still have room to fall in the near term because of poor demand from downstream synthetic rubber (SR) market.