Asia top stories - weekly summary

Source: ICIS News

2019/02/04

SINGAPORE (ICIS)--Here are the top stories from Asia and the Middle East for the week ended 2 February 2019.

China's PO import prices set to ease on domestic price decline
China's import prices of spot propylene oxide (PO) cargoes are expected to register declines week on week, tracking lower prices in the domestic market blighted by thin demand.

Asia PS suppliers cut export volumes to Mideast market
Asia’s polystyrene (PS) suppliers have reduced export volumes to the Middle East, preferring to cater to strong domestic demand for February-shipping material.

Asia BD may be near bottom as demand may pick up post Lunar New Year
Asia butadiene (BD) spot prices may be near bottom as demand is expected to pick up after the Lunar New Year holiday while supply is expected to tighten on BD plant shutdowns from March.

Asia acetic acid struggles to find support from post-holiday demand
Asia’s acetic acid prices may struggle to find support amid stable-to-firm domestic prices in China on the back of restocking activities, the recent spate of plant outages which did little to tighten the market, and an anticipated demand recovery post-Lunar New Year.

Southeast Asia PME firms as Malaysia’s full B10 plan kicks in
Prices of palm methyl ester (PME) biodiesel in southeast (SE) Asia were firmer, but whether these will remain so is unclear even as Malaysia’s long-awaited mandatory implementation of its B10 blending programme takes effect.

Asia PET outlook bullish, buoyed by market fundamentals
Sentiment in the Asia polyethylene terephthalate (PET) market is positive, buoyed by supply and demand fundamentals.

China domestic PTA prices supported by tight supply in H1
China’s domestic purified terephthalic acid (PTA) prices will be supported by tight supply as capacity addition in the first half of 2019 will be outpaced by downstream polyester expansion.

India SBR may face downward pressure in February on weak demand
India styrene butadiene rubber (SBR) prices may face downward pressure in February on weak demand, ample supply and declining feedstock butadiene (BD) cost.

Thailand's SCG 2019 earnings to be supported by good chem margins, non-chemical units
Siam Chemical Group’s (SCG) earnings will continue to be supported by solid petrochemical margins and contributions from non-chemical businesses this year amid relatively low oil prices, according to analysts.

Asia C8-10 fatty acids soften on ample supply, demand outlook weak
Asia prices of C8-10 caprylic-capric acids and C10 capric acids softened on ample supply with some suppliers lowering their offers to stir buying interest, though upcoming Lunar New Year holidays and a conference later will keep demand subdued.

Asia's mid-cut fatty acids market to remain subdued
Price discussions for mid-cut C12 lauric acids and C14 myristic acids in Asia remained subdued and are expected to remain so in the next two weeks due to the upcoming Lunar New Year holidays.

SE Asia PP weighed down by ample supply; spread with China prices narrows
Southeast (SE) Asia’s polypropylene (PP) spot market is being weighed down by ample regional supply, resulting in a narrowing of premium to rising Chinese prices.

Asia petrochemical trades slacken ahead of Lunar New Year holiday
Petrochemical trades in Asia have slackened in the weeks leading to the Lunar New Year holiday as manufacturing in the key China market slows down, with a number of downstream facilities coming off stream.

Asia etac halts 14-week fall on China domestic acetic acid gains
Asia’s ethyl acetate (etac) prices halted steady decline since October 2018 on the back of gains in feedstock acetic acid in China's domestic market.