Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 December.

Japan’s Shin-etsu to complete US ethane cracker by end-’18
Japanese producer Shin-etsu Chemical is looking at completing construction of its 500,000 tonne/year ethane cracker in the US by the end of the year, a company spokesperson said on Friday.

Indian specialty chemical firms to expand capacity on robust demand
India’s specialty chemicals sector can expect to see an increase in capacity over the next five years on strong domestic and export demand, and reduced supply from China, industry sources said.

Saudi Arabia’s Sipchem, Sahara Petchem to merge via share swap
Saudi International Petrochemical Co (Sipchem) and Sahara Petrochemicals signed on 5 December a binding agreement on their planned merger of equals, which will be done via a share swap.

Asian PO at year-low levels on tepid demand, may bottom out
Asian propylene oxide (PO) import prices continue to languish under thin buying interest, but may bottom out soon if budding signs of improvement in the yuan-denominated market in China materialise.

SE Asia NBR faces pressure from sluggish demand, falling BD, ACN
Asia’s acrylonitrile butadiene rubber (NBR) prices continued to face downward pressure from sluggish demand and losses in feedstock acrylonitrile (ACN) and butadiene (BD) markets.

Asia benzene uptick fizzles out; supply to lengthen
Asia’s benzene market gains fizzled out midweek as market participants shifted back their focus on the expected lengthening of regional supply.

China NBA to rise in December on firmer fundamentals, propylene
China’s n-butanol (NBA) prices are expected to continue rising in December on the back of improving market fundamentals and rising feedstock propylene costs.

Asia SM rebounds more than $50/tonne in two days, but worries remain
Asia’s styrene monomer (SM) prices have rebounded by more than $50/tonne in a span of two consecutive days, reversing the consecutively general downtrend since early October, as market sentiment took a turn for the better.

NE Asia caustic soda hits 28-month low on strong selling pressure
Northeast Asia’s liquid caustic soda have hit a 28-month low and will likely remain under pressure as producers face mounting inventory, while shipments to the key India market are still hampered by certification requirements.

Asia etac at more than one-year low; fundamentals to remain soft
Asia ethyl acetate (etac) prices may remain soft in the near term because of the year-end seasonal lull in demand and uncertainty despite the temporary truce in the US-China trade war.

INTERACTIVE: Asia manufacturing slowdown continues in November
Asia’s manufacturing sector continued to slow down in November amid the trade tensions between the US and China, with business confidence in the region expected to remain subdued next year.

Asia PMMA falls for fifth month on long supply, trade uncertainty remains
Asia’s polymethyl methacrylate (PMMA) import markets have fallen over the past five months and will remain under pressure due to long supply and trading uncertainty, industry sources said.

Asia toluene falls below $580/tonne on ample supply despite China rebound
Asia’s toluene prices have fallen to levels not seen since early July 2017 amid ample supply despite the rebound in domestic prices in China.