Asia top stories - weekly summary

Source: ICIS News

2019/01/21

SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 18 January 2018.

SE Asia PME biodiesel steady as Malaysia readies for B10 rollout
Spot prices of palm methyl ester (PME) biodiesel in southeast Asia were stable amid scarce deals, with some players in the Malaysian market staying on the sidelines ahead of B10 requirements.

Asia BPA demand heats up ahead of Lunar New Year
Asia’s bisphenol A (BPA) prices are set to gain momentum, driven by pre-holiday demand as buyers surfaced to re-stock just before the Lunar New Year holiday.

Asia adipic acid may extend gains as producers face margin squeeze
Asia’s adipic acid (ADA) market may extend gains as exporters from China – a major regional supplier – have raised prices to recoup margins amid low stocks.

Singapore Dec petchem exports fall 3.5% on year; NODX down 8.5%
Singapore’s petrochemical shipments in December 2018 fell by 3.5% year on year to Singapore dollar (S$) 1.39bn, while the overall non-oil domestic exports for the month shrank at a steeper rate of 8.5%, official data showed on Thursday.

China BD plunges after surge; mood cautious before holidays
In the first half of January, the China domestic market price of butadiene (BD) surged and then fell rapidly. Spot prices were assessed at yuan (CNY) 10,550-10,800/tonne DEL (delivered) east China on 16 January, down by 10% in four working days, ICIS data showed.

SE Asia MEK offers down for prompt shipment on ample supply
Methyl ethyl ketone (MEK) offers in southeast (SE) Asia had fallen this week for shipment in end of January amid thin demand, traders said on Wednesday.

Asia SAN trades pick up on pre-Lunar New Year holiday re-stocking
Asia’s styrene-acrylonitrile (SAN) trades have picked up ahead of the Lunar New Year holidays in early February, with buyers keen on stocking up on resins as prices may have bottomed out.

Asia benzene largely steady pre-holiday; China trades to slow down
Asia’s benzene market was largely stable this week ahead of the Lunar New Year holidays in early February, with trades expected to taper off in the key China market.

Asia EVA prices decline as supply outstrips demand, spread with feedstocks still elevated
The prices of ethylene vinyl acetate (EVA) fell for a second consecutive week in January as the majority of producers reduced offer prices for the month, and some for February shipments.

China domestic ethanolamines under pressure amid recent feedstock losses
China’s domestic ethanolamines has plummeted over the past two weeks, by up to yuan (CNY) 1,000/tonne, due to feedstock ethylene oxide (EO) losses locally, and will remain under some downward pressure in the short term.

Asia PBR may extend gains on rising BD cost, restocking
Asia’s polybutadiene rubber (PBR) prices are facing upward pressure from rising cost of feedstock butadiene (BD) cost and amid re-stocking activities ahead of the Lunar New Year holidays.

Asia ACN prices near bottom on squeezed margins; outlook unclear
Asia acrylonitrile (ACN) prices are near bottom due to squeezed margins, but whether an immediate uptrend will be seen depends on downstream demand.

Asia MMA market declines to over 19-month lows, outlook bearish
Asia’s methyl methacrylate (MMA) spot markets have dropped to over 19-month-lows on downbeat demand and ample supply, with bearish expectations among participants for the near term.

China PE may turn stable to soft ahead of Lunar New Year
China’s spot polyethylene (PE) prices recently rebounded in response to the government’s economic stimulus and tighter supply due to unexpected plant turnarounds, but the market may turn stable to soft ahead of the Lunar New Year holidays.