Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 3 May 2019.

Vietnam PP market stands out while demand is tepid across SE Asia
Demand for polypropylene (PP) has been tepid across the bulk of southeast Asian countries, but an oasis for suppliers was evident in Vietnam where there was still demand for imports.

Southeast Asia PME prices likely stable in limited dealings
Spot prices of palm methyl ester (PME) biodiesel in southeast (SE) Asia were kept on hold in the week ended 2 May and are expected to remain so amid limited offers and discussions.

Asia ABS stays soft amid Labour Holidays; mixed demand outlook
While some sellers in the Asia acrylonitrile-butadiene-styrene (ABS) market anticipate a pickup in business after the Labour Day holidays, others were less sanguine and expect buying interest to remain poor in May.

Asia BPA demand picks up momentum ahead of holiday
Asia bisphenol A (BPA) prices rose on the back of a buying spurt, ahead of regional holidays this week, while supply limitations from plant turnarounds is set to keep prices afloat.

China BD prices stoked by pre-holiday demand, healthy downstream margins
While butadiene (BD) prices in China are supported by healthy demand and firm downstream margins, the market could face fresh supply in the near term following the end of plant turnarounds.

Asia fatty acids market affected by holidays, volatile feedstock
Asia fatty acids markets – subdued ahead of an upcoming holiday – are likely to stay under pressure due to a bearish buying sentiment, and fluctuations in feedstock palm oil prices.

China benzene domestic and import price gap to persist in near term
The large gap between domestic and imported benzene prices in China is expected to remain in the near term as local cargo holders continue to slash offers.

INTERACTIVE: China PP import, domestic price gap may continue to widen
The price gap between China’s polypropylene (PP) import and domestic markets may continue to widen as import prices are supported by limited supply while domestic values are dampened by heavy inventories.

China’s PTA producers to enjoy robust margins on weak upstream PX prices
China’s purified terephthalic acid (PTA) margins hovering at high levels for the last couple of weeks may continue to stay robust as prices of upstream paraxylene (PX) market remains weak with little chances of gaining strength in the long run.

Pakistan’s new PE offers little changed on soft demand, ample supply
Spot polyethylene (PE) offers to Pakistan for May-lifting cargoes emerged early in the week, at price levels largely similar to April bookings amid prospects of limited demand and ample supply in the near term.

Asia ACN surges by 33.3% since 2019 beginning; uptrend to sustain
Asia acrylonitrile (ACN) prices surged by 33.3% since the beginning of the year and the price uptrend is expected to sustain in the near term on the supply crunch in the globe.

SE Asia IPA dips lower on persistent bearish sentiment
Isopropanol (IPA) prices in southeast Asia are expected to remain under downward pressure owing to sufficient inventories and bearish market sentiment.