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 15 June 2018.

Mideast polyolefins demand to firm in Q4, crude adds uncertainty
Polyolefin demand in the Middle East has been mixed since early this year and is likely to see limited activity going into Q3, though major uptick is possible in late Q3 or early Q4 onwards.

Southeast Asia PE market faces longer H2 supply, weak demand
Southeast Asia’s polyethylene (PE) market may be facing longer supply in the second half, hinging on how the US-China trade spat plays out, amid the region’s weakening demand for imports.

Asia oleochemicals weighed down by falling feedstock costs
Asia’s oleochemical markets are being weighed down by price weakness in feedstock palm kernel oil (PKO) and palm stearin.

Asia PTA supply to lengthen in H2 on India, China plant start-ups
Supply of purified terephthalic acid (PTA) in Asia is expected to lengthen in the second half of 2018 as new capacities will start up in the major markets of India and China, amid a slowdown in demand.

Asia PET to remain firm in Q3 as tight supply support prices
Asian polyethylene terephthalate (PET) market is likely to remain firm in the third quarter on the back of tight supply, a trend that has supported prices so far in 2018.

Asia petchem shares shrug off US-N Korea deal; peace dividend eyed
Shares of petrochemical companies in Asia were trading lower on Wednesday with no concrete pledges made by North Korea and the US on how to proceed with denuclearisation after their meeting in Singapore on 12 June.

China low-melting PP copolymer hits 18-month high on short supply
China’s spot domestic prices for low-melting (LM) polypropylene (PP) copolymer hit an 18-month high on the back of short supply.

Asia MX likely to be under pressure in H2 2018 on weak demand
Asian mixed xylenes are likely to face headwinds in H2 2018 on weaker demand from the gasoline blending sector as well as increasing length in downstream markets.

SE Asia liquid caustic soda falls to 14-month low on ample supply
Southeast Asia’s liquid caustic soda spot prices have fallen to a fourteen-month low due to ample spot availability amid weak demand.

Tight NE Asia propylene supply to limit H2 price fluctuations
Tight propylene (C3) supply in northeast Asia amid a heavy turnaround schedule in 2018 will continue supporting regional prices of the material into the second half.

Asia BD to fluctuate in H2 as supply, demand balance shifts
Asia’s butadiene (BD) spot prices for July shipments are likely to trend lower but the price trend is likely to reverse when cracker turnarounds start to kick in from September onwards.

NE Asia ethylene H2 outlook hinges on new supply, SM plant
Northeast (NE) Asia ethylene (C2) second-half 2018 outlook is  uncertain as several crackers are scheduled for maintenance but such production losses could be offset by the start up of a new plant and cargoes from outside the region.

Asia MEG to see demand tapering, lower supply in early H2
The Asian monoethylene glycol (MEG) market could see demand slowing down from the end of June while supply will be reduced from a number of plant turnarounds.

Asian ACN scales new heights on protracted supply constraints
Asian prices of acrylonitrile are set to stay on a firm uptrend, as long as ongoing supply constraints do not ease.