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 27 April.

China phenol imports to stay strong on overall snug supply
China’s phenol imports may stay strong on the back of overall snug supply in Asia. Discussions for a May-loading shipment of US origin were at $1,380-1,400/tonne CFR (cost & freight) China, up $20/tonne from ICIS’ assessment last week.

China DEG market to face downward pressure from imports
China’s domestic diethylene glycol (DEG) prices may come under pressure in the near term, with a huge volume of import cargoes due to arrive early next month.

India phenol may extend gains on limited supply
India’s phenol prices may continue to increase on the back of limited spot supplies in Asia and the Middle East.

China benzene prices start to drop, outlook remains cautious
China benzene price started to drop in the end of April after rising initially at the start of the month.

China PTA prices to stay firm in Q2 on healthy demand, strong crude oil
Chinese purified terephthalic acid (PTA) prices are set to stay firm during the rest of the second quarter on the back of firm crude oil prices, turnarounds at several plants set to tighten supply, and healthy demand from the downstream sectors.

Southeast Asia IPA to rise on strong upstream markets
Southeast Asia’s isopropanol (IPA) import prices look set to rise after slumping since the start of March, amid strengthening upstream propylene (C3) and acetone costs.

NE Asia EDC hits 11-month high on China demand, tight supply
Ethylene dichloride (EDC) spot prices in northeast Asia hit their highest in more than 11 months, and continued to firm with increased spot deals from non-vinyl buyers in the key China market amid tight supply.

China MEG port inventory climbs as imports rise on firm prices
China’s mono ethylene glycol (MEG) inventories at the main ports – at record high – are likely to continue to swell as more imported cargoes arrive on firmer prices.

China domestic ethanolamines may edge down on soft demand
China’s domestic ethanolamines prices may edge down amid curbed buying, but the pressure could be countered by strong upstream costs.

China MTBE may extend gains on pre-holiday demand
China’s domestic methyl tertiary butyl ether (MTBE) prices may continue to rise on expectations of higher upstream gasoline values and pre-holiday replenishing demand.

Asian ACN racing up on supply constraints, strong China market
Asia’s spot prices for acrylonitrile (ACN) posted strong gains, alongside spikes in domestic Chinese prices, and could well stay supported at high levels by tight supply.

China domestic PE to stay firm on reduced supply, better demand
China’s domestic polyethylene (PE) prices are expected to be supported throughout the second quarter by improving demand amid tighter spot supply.