Asia top stories – weekly summary
ICIS Editorial
22-Apr-2019
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.
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