Asia top stories - weekly summary

Source: ICIS News

2018/04/16

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 EastShort 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 supplyChina’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 hikeBuyers 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 marketChina’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 sightSoutheast 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 outlookCurtailed 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 demandChina’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 feedstockAsia 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 supplySoutheast 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 marketSpot 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.