Asia top stories - weekly summary

Author: ICIS Editorial

2019/04/22

SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 18 April 2019.

Asia's ethylene prices down on weak Chinese buying, restocking to remain slow
Asia spot ethylene prices were undermined by weak Chinese demand for May shipments.Restocking activity for June-arrival cargoes may not see significant improvement in the coming weeks.

Asia refined glycerine prices soften as suppliers look to move cargoes
Spot prices of drummed refined glycerine in Asia are likely to continue to face downward pressure, with some biodiesel suppliers keen to move their cargoes to keep their plants running, market sources said on Thursday.

Asia VCM supply to increase after LG Chem's PVC plant shutdown
Spot vinyl chloride monomer (VCM) supply in Asia is expected to increase in the near term following the shutdown of LG Chem’s downstream emulsion polyvinyl chloride (PVC) plant in Yeosu, South Korea, on environmental grounds.

India methanol spikes on tight supply; may not sustain gains
Methanol prices in India have spiked by 14.4% in less than two weeks to their highest so far in 2019 largely due to tight supply, but the gains may not be sustained amid continued weakness in demand.

Shandong independent refiners’ fuel stocks rise 23.7% in mid-April
Refined oil product inventories at independent refiners in China’s Shandong province totaled around 705,000 tonnes as of mid-April, up by 23.7% or 135,000 tonnes from the levels seen two weeks earlier, according to ICIS data.

Asia's short chain alcohols prices down on sluggish demand
Asia's prices of short chain fatty alcohols are facing downward pressure from sluggish demand despite limited spot supply.

Asia ABS stays firm on elevated feedstock
The Asia acrylonitrile-butadiene-styrene (ABS) market was firm this week with suppliers holding on to offers and targeting higher prices.

Wary sulphuric acid players watch as Chinalco prepares tight shipment schedule
Indian fertilizer producer IFFCO has confirmed it has purchased two sulphuric acid cargoes from China’s Southeast Copper - a subsidiary of metals major Chinalco - via international traders, sources said on Tuesday.

China, SE Asia PVC discussions to remain soft amid slowdown in India
Discussions for polyvinyl chloride (PVC) deals in Asia are expected to remain at softer levels in the near term as demand continues to be tepid in key market India.

SE Asia long in duty-free PP cargoes; supply from Mideast tight
Southeast Asia’s polypropylene (PP) market is long in supply of non-dutiable cargoes, while availability of dutiable supply from the Middle East is tight.

Indonesia PE market muted as the country gears up for election
Indonesia's polyethylene (PE) market has slowed down in recent weeks amid uncertain outlook, as the country gears up for the upcoming election on 17 April and is likely to stay subdued ahead of the Muslim fasting month of Ramadan.

SE Asia IPA plunges to 32-month low; still under pressure
Isopropanol (IPA) prices in southeast (SE) Asia fell to their lowest in nearly three years amid falling feedstock acetone prices and generally weak demand.

Asia PS to stay firm on robust demand despite volatile SM prices
Asia’s polystyrene (PS) demand from the manufacturing sector is expected to stay robust in the near term which will keep prices firm despite volatility in feedstock styrene monomer (SM) values.

Asia BPA prices slide to two-month low, upside prospects dim
Asia bisphenol A (BPA) import prices have eased to a two-month low on the back of slowing downstream demand, which is likely to hamper any potential near-term upside.

SE Asia TDI Apr imports set to firm amid higher offers
Southeast (SE) Asia spot prices of toluene diisocyanate (TDI) for April are poised to reverse a declining trend and firm up in the near future as demand improves resulting in higher discussions and deals.

Asia MMA at 25-month low; declines to slow down on US supply woes
Asia’s methyl methacrylate (MMA) spot prices are at their lowest in more than two years and are likely to remain under pressure on rocky regional fundamentals.