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 9 November 2018.

Local Indonesia PE market remains weak despite stronger Rupiah
Local Indonesian polyethylene (PE) market sentiment remains weak with chances of further price declines even though local currency Rupiah has rebounded against the US Dollar this week.

China acetic acid slumps 15%; restocking may halt further falls
China’s domestic acetic acid prices have slumped over a period of more than two weeks, which may prompt buyers to start picking up spot cargoes and consequently halt any further decline in values.

Asia naphtha extends losses; crack spread sinks to 26-month low
Asia’s naphtha prices continued to fall on Friday, pummeled by a persistent supply overhang and weakening crude futures.

China NBR imports to weaken further on poor auto sales, final ADDs
China’s acrylonitrile butadiene rubber (NBR) imports are likely to slow down further amid weakness in downstream automotive sector, and as its five-year antidumping duties (ADDs) on South Korean and Japanese material take effect.

Middle East TDI to have little impact from China Wanhua’s new plant
China’s Wanhua Chemical signaled its impending debut into the toluene di-isocyanate (TDI) supply chain this month when it informed customers it would start sending sample cargoes in November.

Asia BG under pressure on soft feedstocks, ample supply
Asia butyl glycol (BG) spot prices remain weak on sluggish sentiments amid feedstock softening, slow demand and ample supply, factors that would likely to weigh on the market in the near future.

China TDI to stay weak as supplies build; demand remains sluggish
China’s toluene di-isocyanate (TDI) domestic prices continued to spiral downwards with no end in sight for the near term as supply is poised to grow at a time when downstream demand remains far from satisfactory.

China urea gets no relief from slight easing of environment guidelines
China’s urea market got no relief from the slight easing of environmental measures of the government while future prospects of any upside appear to be rather remote.

Asia PMDI may bottom out soon, but MMDI stays under fire on thin demand
Polymeric methyl di-p-phenylene isocyanate (PMDI) prices in Asia may be bottoming out after near 40%-plunge over three months, as supplies tighten.

China chemical markets to stay weak during Shanghai import expo
China’s domestic chemical markets may stay soft this week after a heavy slump despite restrictions in production and logistics during a major import expo in Shanghai.

Asia acetone, phenol supply to tighten as sellers eye Europe market
Asia’s spot acetone and phenol availability may diminish, as some suppliers were seeking discussions with Europe-based buyers.