Asia top stories - weekly summary

Source: ICIS News

2019/02/18

SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 15 February.

NE Asia ethylene hits 18-week high, post holiday re-stocking continues
Northeast Asia ethylene import prices surged to an 18-week high, lifted by post-holiday re-stocking in China and tighter regional supply.

Singapore economy to slow further in 2019 after expanding 3.2% last year
Singapore’s economy is expected to cool further in 2019, with marked decelerations in its manufacturing sector and petrochemical exports pointing to a global economic slowdown.

Southeast Asia BG market under pressure on ample supply
Southeast Asia’s butyl glycol (BG) spot prices will likely remain under pressure from ample supply in the near term.

Asia PBT import prices halt falls; makers face thinning margins
Spot import prices of polybutylene terephthalate (PBT) in Asia are expected to be stable to soft in the second half of February.

Asia isomer-grade xylene rises 2.4% on bullish sentiment
Asia’s isomer grade xylenes (IX) prices rebounded 2.4% on Thursday, after a minor correction in the previous day, on bullish sentiment due to rising crude oil values and good performance in other markets.

China PMDI prices poised to gain on active re-stocking
Spot prices of Polymeric methylene diphenyl diisocyanate (PMDI) in the Chinese import market are set to remain stable-to-firm going into the second half of February.

SE Asia PP may find support from supply tightness; Feb seen mostly stable
The southeast Asia polypropylene (PP) prices market may draw some support from regional supply tightness, though most market players expect stability to remain for most of February.

Asia TDI spot poised to fall as oversupply outstrips demand
Spot prices for toluene diisocyanate (TDI) in Asia are poised to register declines in the week ending 13 February, tracking softer indications for February-loading material, market sources said on Wednesday.

Asian PX prices to firm on receding supply; backwardation in sight
Asian paraxylene (PX) prices will be buttressed by healthy market fundamentals going forward, as the pool of supply is seen decreasing as a legion of PX units will undergo maintenance works.

China Jan gasoline import loss widens; arbitrage window stays shut
Theoretical margins for gasoline imports in China were at minus yuan (CNY) 210.4/tonne ($31/tonne) in January, compared with minus CNY33.8/tonne in December 2018, ICIS data showed.

Asia epoxy resin export offers up on upstream gains; but demand hazy
Export offers for northeast Asia-origin epoxy resin cargoes are edging up alongside upstream gains, but upside potential may be capped if downstream demand does not recover sufficiently.

Asia BD may rebound near term on China demand post-holiday
Asia’s butadiene (BD) spot prices may rebound soon because of heightened buying interest from China post-holiday.

NE Asia C3 markets may take time to warm up post-holidays
Spot propylene markets in northeast Asia are expected to be largely quiet post-Lunar New Year holidays in major regional markets.