Asia top stories – weekly summary
ICIS Editorial
04-Feb-2019
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.
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