Asia top stories – weekly summary
ICIS Editorial
01-Oct-2018
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 28 September.
Asia BD wide buy-sell gap hampers trade amid
firm China market
SINGAPORE (ICIS)–Bids and offers in Asia’s
butadiene (BD) market were far apart hampering
trades in the week, with regional sellers
maintaining offers amid firm domestic prices in
the key China market.
Asia’s VAM prices still weak, may bottom out
ahead of plant shutdowns
SINGAPORE (ICIS)–Asia’s ethylene-based vinyl
acetate monomer (VAM) remains soft on ample
supply amid tepid demand, but market expects
the prices to bottom out soon as a result of
more planned shutdowns.
Asia petrochemical trades slow down ahead of
China’s Golden Week
SINGAPORE (ICIS)–Asia’s petrochemical trades
have slowed down as China – a key market in the
region – will go on a week-long holiday in
October.
Asia etac spikes on strong feedstock acetic
acid market
SINGAPORE (ICIS)–Asia’s ethyl acetate (etac)
spot discussions were firmer in the week,
tracking price spikes in feedstock acetic acid
market due to tight supply.
Asia ABS market slow ahead of China
holidays
SINGAPORE (ICIS)–Activity in the Asia
acrylonitrile-butadiene-styrene (ABS) market
has slowed ahead of the National Day holidays
in the key Chinese market and demand is not
expected to pick up in the near term.
Asia methanol at 3.5-month highs; shrugs off
new Iran capacity
SINGAPORE (ICIS)–Asia’s methanol prices have
hit their highest level in three-and-a-half
months partly on tight inventories at ports in
the key China market, with players largely
shrugging off a huge capacity that started up
in Iran.
China phenol import prices at near four-year
high on tight supply
SINGAPORE (ICIS)–China’s phenol import prices
are at their highest in nearly four years on
the back of tight supply due to a slew of
shutdowns at major domestic facilities.
NE Asia propylene hits new 2018 high on tight
supply, restocking
SINGAPORE (ICIS)–Spot propylene (C3) prices in
northeast Asia hit their highest so far this
year on the back of tight supply and some
restocking activities in China ahead of its
Golden Week holiday.
Asia PVC tumbles to more than 9-month low amid
US-China trade war
SINGAPORE (ICIS)–Spot polyvinyl chloride (PVC)
prices in northeast Asia fell to their lowest
in more than nine months, weighed down by
competitively priced US cargoes and uncertainty
amid the ongoing US-China trade war.
Asia BD may halt falls as China demand picks up
ahead of holidays
SINGAPORE (ICIS)–Asia’s butadiene (BD) spot
prices may stop falling as demand from the key
China market is expected to pick up ahead of
its week-long holiday in October, while supply
could tighten if regional producers start
exporting cargoes to the US.
China’s gasoline and gasoil stable in mid-Sept,
uptick expected
SINGAPORE (ICIS)–China’s gasoline and gasoil
prices were largely stable in the week ended 21
September though going forward an increase in
prices and an improvement in trading sentiment
is expected.
Chinese PET margins to stay squeezed on ample
supply
SINGAPORE (ICIS)–China’s polyethylene
terephthalate (PET) bottle grade chip margins
are likely to stay squeezed while prices will
follow the feedstock trend for the rest of the
year as supply is expected to remain stable to
long.
Asia naphtha jumps to four-month high on crude
gains, market unfazed
SINGAPORE (ICIS)–Asia’s naphtha prices touched
a four-month high at above $700/tonne in
response to high crude oil futures, but a
supply overhang will keep the market slightly
bearish.
Tough times ahead for Asia PS suppliers to
Middle East on volatile SM
SINGAPORE (ICIS)–Asia polystyrene (PS)
suppliers to the Middle East may continue to
face tough times ahead amid the ongoing
volatility of upstream styrene monomer (SM)
values.
Asia ACN snaps six-month gains; downside
limited by tight supply
SINGAPORE (ICIS)–Asia’s acrylonitrile (ACN)
prices fell for the first time since end-March,
after rising by 16.6% over nearly six months,
but further declines will likely be limited as
upcoming plant turnarounds will tighten supply.
US-China trade war heightens as new tariffs on
$260bn goods hit
SINGAPORE (ICIS)–The US-China trade war
escalated as a third round of tariffs involving
$260bn worth of goods was implemented on
Monday, concerns for which have been rattling
Asia’s equities and currency markets.
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