Asia top stories - weekly summary

Source: ICIS News

2019/05/20

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.