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 11 May 2018.

China-Iran petrochemical trades insulated from US sanctions
China’s petrochemical imports from Iran are not expected to take a major hit upon the US’ re-imposition of sanctions against the Middle Eastern country.

Asia BD hits 13-month high on short supply, strong demand
Asia’s butadiene (BD) spot prices spiked to their highest level in more than 13 months this week on the back of short supply and strong demand for prompt shipments.

China C3 uptrend halted, prices likely to remain stable
China’s domestic propylene (C3) recent uptrend has come to an end with prices being stable at high levels for the last few days but if demand from the polypropylene (PP) sector does not last, chances are prices may even weaken due to oversupply.

Iran base oils outlook clouded by uncertainties over US sanctions
Iran’s base oils prices were largely stable in the week, but market outlook is being clouded with uncertainties following the US’ decision to re-impose sanctions on the country.

Middle East isocyanates not swayed by US pullout of Iran deal

The Middle East market for isocyanates is not expecting any major adverse impact from US President Donald Trump’s decision on Tuesday to withdraw from the Iran nuclear deal and re-impose sanctions on Tehran.

Asia EPS offers firming up on buoyant feedstock, buying muted
Asia suppliers of expandable polystyrene (EPS) are targeting higher prices amid recent strength in feedstock styrene monomer (SM) values though buyers response is slightly muted so far.

Asia SBR looks set to rise on feedstock BD cost surge
Asia styrene butadiene rubber (SBR) prices look set to rise further because of rising feedstock styrene monomer (SM) and butadiene (BD) costs.

India rupee slump fuels spike in domestic petrochemical prices
Petrochemical players in India are wary of the rupee’s sharp depreciation, which is fueling price spikes in the domestic market, but a seasonally strong demand, as well as absence of domestic capacities for some products, ensures continued growth in import volumes for the time being.

Asia PS sellers increase offers on buoyant SM; resistance likely
Asia polystyrene (PS) sellers increased resin offers this week, in response to recent strength in feedstock styrene monomer (SM) numbers but buying resistance is expected to kick in, market players said.

China MMA slips from record highs as downstream demand weakens
China’s domestic methyl methacrylate (MMA) prices slipped from record highs amid softening demand, with some downstream producers resorting to cutting output.