Asia top stories - weekly summary

Source: ICIS News

2018/06/11

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle East for the week ended 8 June 2018.

Tight supply to support China PP market despite weak demand Tight supply would buoy up China’s polypropylene (PP) prices in the near term despite weak downstream demand.

China melamine up amid tight supplies; demand outlook muted Export offers for China-origin melamine supplies have spiked on shrinking output and firm costs, with the uptrend not expected to ease as long as supply stays capped, market participants said on Wednesday.

Asia BD falls as tight supply eases on deep-sea cargo influx Spot butadiene (BD) prices in Asia declined further this week amid an easing of tight supply due to an influx of deep-sea cargoes and restart of regional crackers from turnarounds.

NE Asia EDC at 13-month high; breaches $300/tonne on short supply Northeast Asia's ethylene dichloride (EDC) prices have climbed to a thirteen-month high – above the $300/tonne mark – and may remain supported in the near term because of short supply.

Asia PET supply tightness to continue, margins near historical high Asian polyethylene terephthalate (PET) market prices had been on a general uptrend since mid-May 2017 and margins are near historical high amid persistently tight supply conditions that are expected to stay in the next few months.

Asia acetone-based IPA demand to improve amid soft prices Demand for acetone-based isopropanol (IPA) in Asia may improve given their lower cost compared with propylene (C3)-based material, whose prices continued to spike on strong feedstock values.

China PE imports to stay strong amid domestic plant turnarounds China’s polyethylene (PE) imports are expected to remain strong for the rest of the year, after posting record volumes in January to April 2018, amid scheduled turnarounds at domestic facilities.

Asia June BDO prices to be largely steady amid rangebound talks Spot import prices of 1,4-butanediol (BDO) in the Chinese import market are expected to largely hold steady in the next few weeks as offers for spot material are expected to remain range-bound.

NE Asia propylene falls on weak demand, expected new supply Spot propylene prices in northeast Asia started the month on a weak note due to soft import demand from China, while regional supply would increase when a new plant in South Korea starts up in the second half of June.

China imports to underpin Asia toluene market in H2 2018 Asia’s toluene market direction in the second half of this year will be determined by the buying activity from Chinese importers, which has been the key factor influencing its prices so far in 2018.

China HDPE injection prices gain on tight supply High density polyethylene (HDPE) injection prices in China’s domestic spot market have been rising since late May and may continue their uptrend due to tight supply.

China domestic MMA prices extend slump on weak demand China’s domestic methyl methacrylate (MMA) prices have been slumping since early May, with the down

SE Asia PME likely to get support from China, India demand surge Spot prices of palm methyl ester (PME) in southeast (SE) Asia are expected to be supported over coming weeks due to an uptick in interest from buyers in China and India, according to market sources.