Asia top stories - weekly summary

Source: ICIS News

2018/06/25

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle East for the week ended 22 June 2018.

China allows R-PET imports on strict criteria; bulk lots still banned The importation of RPET into China is allowed under strict definition, which restricts it to certain grades typically not imported in huge quantities, while the bulk of the material will still not be able to gain entry, market sources said.

China's base oil imports to see little impact from US trade spat An on-going trade spat between Washington and Beijing may have limited impact on base oils trade flow to China as the country imports very small quantity of the material from the US.

China BD slumps on downstream synthetic rubber output cuts China’s domestic spot butadiene (BD) prices have been slumping since end-May as demand weakened following shutdowns at downstream synthetic rubber plants which may extend to July.

Asia PBR may fall lower on declining feedstock BD and NR Asia polybutadiene rubber PSBR) prices are likely to fall lower because of declining feedstock butadiene (BD) and natural rubber (NR) prices amid fears of a looming trade war between China and the US.

Asia, Mideast base oils firm in H1 but some pullback likely in H2 Asia base oils Group I SN150 and Group II 150N prices are expected to remain firm on persistently low supply, whereas the heavy grades - Group I SN500 and Group II 500/600N - could come under pressure on ample availability.

China MTBE to halt declines on reduced supply; demand still soft China’s domestic methyl tertiary butyl ether (MTBE) prices may stop falling, with support from reduced supply following a shutdown of a major domestic facility.

China-US trade war may weigh on Asia SBR demand in H2 Asia’s styrene butadiene rubber (SBR) demand is expected to grow in the second half of the year, with its spot price to be impacted by the key feedstock butadiene (BD) price movements.

SE Asia PP may come under pressure in H2 as supply lengthens Southeast Asia’s polypropylene (PP) market may come under pressure in the second half of the year on account of lengthening regional supply and weak downstream demand.

Asia BPA hits more than three-year high on demand, snug supply Asia’s bisphenol A (BPA) prices have climbed to their highest in more than three years on the back of supply shortfalls and sturdy demand, with room for further upside.

Asia phenol, acetone sentiment to soften on improved supply in H2 Asia phenol and acetone import sentiment is likely to soften as a result of improved supply in the region in the second half of the year.

Asia methanol faces supply-side pressures into H2 Supply-side pressures may continue to weigh on Asia’s spot methanol prices into the second half of 2018, following completion of plant turnarounds at major suppliers in the Middle East and with two new plants coming on stream in Iran.