Asia top stories – weekly summary
ICIS Editorial
20-May-2019
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 17 May 2019.
Chinese BDO market
stabilizes while European expectations
rise
While China’s butanediol (BDO) domestic prices
stabilize on slack domestic demand and lower
output, European expectations rise with hopes
of a rebound in the global market.
Rising port inventories,
weak demand to weigh on China sulphur
market
China domestic sulphur prices remain weak at
present and are likely to be dampened further
because port inventories will continue to
increase while downstream peak demand season
has come to an end.
APIC
’19: Taiwan’s benzene demand normalizes and
expected steady into third quarter
Demand of benzene in Taiwan has normalized and
will remain so into the third quarter after a
stronger month of April and May, market sources
said on the sidelines of the Asia Petrochemical
Industry Conference (APIC) 2019 being held in
Taipei on 16-17 May.
Asia
IPA under pressure on lower trades; to bottom
out soon
Asia isopropanol (IPA) is under pressure on
lower trades and discussions, but market
players largely believed that it may soon
bottom out amid a tightened supply.
China
BG price rebound in sight amid supply
uncertainty
China’s butyl glycol (BG) spot prices could
rebound amid supply uncertainty, as the market
is concerned over imports from a key Middle
East supplier dogged by recent production
issues.
APIC
’19: Asia’s phenol June outlook cautiously
stable
Asia’s phenol projections in June were
cautiously stable, according to market players
on the sidelines of the Asia Petrochemical
Industry Conference (APIC) 2019 being held in
Taipei on 16-17 May.
APIC
’19: Asia petchem industry must address
mounting plastic waste issue
Asia’s petrochemical industry will have to
continue to work together to address mounting
resentment over plastic waste, industry
executives said on Friday.
APIC
’19: Asia VAM demand to rise in next 3
years
The Asia vinyl acetate monomer (VAM) market is
expected to experience higher demand in the
next three years due to downstream capacity
expansion all over Asia, sources said on the
sidelines of the Asia Petrochemical Industry
Conference (APIC) 2019.
APIC
’19: China acetic acid suppliers lose a
bargaining chip amid weaker prices
Acetic acid exporters in China have lost a
bargaining chip on the back of falling domestic
prices and weakening demand.
China
PO import deals likely scarce as local prices
dip
China’s propylene oxide (PO) is likely to face
limited import activities this
week, curtailed by slides in Chinese
yuan-denominated prices for spot material in
the domestic market.
China
ABS prices to fall on shrinking demand
exacerbated by trade woes
China’s acrylonitrile-butadiene-styrene (ABS)
prices are expected to fall further in the near
term, as deepening US-China trade frictions
accelerated the drop in downstream demand.
China
NBR under pressure from low demand amid trade
war with US
China’s import prices for acrylonitrile
butadiene rubber (NBR) may slip if buying
appetite continues to wane with the simmering
US-China trade spat.
China
SBR faces downward pressure from ample
supply
China’s styrene butadiene rubber (SBR) faces
downward pressure from ample supply amid weak
demand.
APIC
’19: Asia ABS demand weakens amid trade war
woes
The Asia acrylonitrile-butadiene-styrene (ABS)
market is expected to remain weak in the near
term, following the recent escalation of the
US-China trade war, market sources said on the
sidelines of the Asia Petrochemical Industry
Conference (APIC) 2019 being held in Taipei on
16-17 May.
APIC
’19: SE Asia Q3 benzene supply to lengthen on
plant start-ups
Supply of benzene in southeast Asia is expected
to lengthen considerably in the third quarter
due to start-ups of new plants, market sources
said on the sidelines of the Asia Petrochemical
Industry Conference (APIC) 2019.
APIC
’19: Asia ACN uptrend to be capped by slowing
demand
Asia’s acrylonitrile (ACN) price uptrend may be
capped by slowing demand from downstream
derivative markets, even as tight supply is
expected to remain in the near term.
APIC
’19: Asia acetone outlook for June cautiously
stable-to-firm
The acetone market outlook in Asia was
cautiously stable-to-firm for June, according
to market players on the sidelines of the Asia
Petrochemical Industry Conference (APIC) 2019
being held in Taipei on 16-17 May.
APIC
’19: Asia’s MIBK H2 market outlook weak on
longer supply
Asia’s methyl isobutyl ketone (MIBK) market
outlook in the second half is weak amid longer
regional supply, according to market players on
the sidelines of the Asia Petrochemical
Industry Conference (APIC) 2019.
China, HK TDI import
prices to change course on US-China trade
war
Spot import prices of toluene diisocyanate
(TDI) in China are likely to reverse from the
current uptrend and head south amid an intense
trade row with the US, sufficient supply and
sluggish demand.
China
PP exports grow amid falling domestic prices,
weak yuan
China’s polypropylene (PP) export volume,
primarily to Vietnam, has been growing amid
plunging domestic prices and the recent
depreciation of the Chinese yuan.
SE
Asia PP market under pressure as US-China trade
war escalates
Sentiment in the southeast (SE) Asian
polypropylene (PP) market is expected to remain
weighed down by escalating trade tensions
between US and China.
Asia
acetic acid outlook downbeat on high output,
weak China demand
Spot prices of acetic acid in Asia may remain
under pressure in the near term on the back of
high output and weak demand in China.
APIC
’19: Asia petchems cautious; trade war worsens
ahead of key industry event
Trades in Asia’s petrochemical markets are
largely cautious ahead of a major regional
conference, as uncertainty over the
intensifying trade war between the US and China
continued to cloud business sentiment.
China’s 25% tariff to hit
US polymers, aromatics by June
China’s latest tit-for-tat move in its 10-month
trade war with the US will hit some key
chemicals such as polymers, aromatics and
methanol.
Asia
naphtha falls to 1.5-month low on adequate
supply
Asia’s naphtha prices eased to a low in more
than a month as global crude oil futures
retreated, against a backdrop of a
well-supplied market scenario that may well
prevail.
SE
Asia PE steady as China markets tumble after US
imposes higher tariffs
China’s polyethylene (PE) import prices tumbled
in the week ended 10 May after the
US slapped higher tariffs on the country’s
imports, but the southeast Asian market largely
held steady amid dampened sentiment, which
might exert pressure on the market in the near
term.
China
LLDPE at 10-year low; may stay weak on bearish
sentiment
China’s domestic linear low density
polyethylene (LLDPE) prices have fallen to
their lowest level in more than 10 years and
may remain soft on bearish sentiment.
NE
Asia propylene market braces for more
uncertainties
Northeast Asia’s spot propylene market could be
entering a new period of uncertainty with the
recent escalation in the trade dispute between
the US and China.
India
methanol to stay under pressure from strong
imports
India’s methanol prices are expected to remain
under pressure throughout May, weighed down by
strong volume of imports.
China
domestic ethanolamines gloomy on upstream
weakness
Ethanolamines markets in domestic China are
likely to see further downward pressure on the
back of upstream ethylene oxide (EO) weakness,
amid lukewarm demand.
East
China propylene supply surplus weighs on
market
East China’s propylene market was characterised
by muted trade in the past month amid surplus
supply since early April, which is expected to
linger for some time.
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