Asia top stories – weekly summary
ICIS Editorial
03-Jun-2019
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 31 May 2019.
Upcoming HDPE capacity in south China to
intensify domestic competition
The new and upcoming HDPE capacity in south
China will lead to fierce competition in the
south China market, several domestic producers
based in south China said recently.
Asia PET spot buying returns; stabilises
Chinese PET prices
Asia spot buying interest in polyethylene
terephthalate (PET) cargoes has improved as
Chinese PET prices started to stabilise, even
seeing rebounds in offers within the week.
Asia fatty acids market subdued and likely to
remain so due to holiday
Asia’s fatty acid discussions are subdued and
are likely to remain so in the near future
especially with the upcoming Eid ul-Fitr
holiday.
Asia’s glycerine supply glut to ease in August
on output cuts
Though the Asian glycerine market is currently
mired in a supply glut and bearish buying
sentiment, the situation could change in August
when biodiesel producers in Malaysia and
Indonesia put on a brake on high output.
Tight SE Asia PME supply renders thin export
availability
Southeast (SE) Asia’s palm methyl ester (PME)
biodiesel is facing tight supply at this
juncture, rendering low export availability to
markets beyond the region as suppliers gear
towards covering domestic blending needs.
China’s gasoline output may fall month on month
in May
China’s gasoline output may fall month on month
in May, as turnarounds peak from late May to
early June and the domestic market remains
oversupplied.
China polymers swing makers to shun HDPE
injection on decade-low price slump
China’s domestic high density polyethylene
(HDPE) injection market may find more producers
tuning their LLDPE/HDPE swing units to other
polymers amid a decade-low price slump.
Asia PC tumbles to near 10-year low on supply
glut
Asia’s polycarbonate (PC) markets have slumped
to record lows in nearly a decade, pummeled by
a plentiful supply situation that could persist
amid the ongoing US-China trade war.
Asia SBR makers hike offers on BD gains; demand
to stay weak
Asia’s styrene butadiene rubber (SBR) producers
have hiked their offers in response to recent
rebound in feedstock butadiene (BD) prices,
even though demand is expected to remain
subdued amid weakness in China’s automotive
sector.
SE Asia PE buckles under pressure from China
market losses
Southeast Asia’s polyethylene (PE) market is
under pressure from slumping values in China,
and may lead to a possible narrowing of the
current wide price gap between the two markets.
Asia etac makers face cost pressure; demand
remains weak
Asia’s ethyl acetate (etac) producers are
facing cost pressures from firm feedstock
prices, prompting them to hike offers despite
continued weakness in demand.
INTERACTIVE: Asia TiO2 weighed down by
escalating trade tensions
Titanium dioxide (TiO2) prices in Asia are
expected to remain weighed down by heightened
trade tensions between the US and China.
Southeast Asia MA market sentiment bearish;
demand to stay weak
Southeast Asia’s maleic anhydride (MA) market
sentiment may remain bearish in the weeks to
come due to persistently weak demand and excess
supply in the market.
Asia MMA slumps to 28-month low amid weak China
market
Asia’s methyl methacrylate (MMA) spot prices
have slumped to their lowest levels in 28
months, and the market is likely to stay
stifled amid weak Chinese values and heightened
US-China trade tensions.
China may import more PP in June on Asia plant
start-ups, restarts
China’s polypropylene (PP) imports are expected
to grow in June amid increased availability of
supply in Asia, with two new start-ups and as
some facilities complete their turnarounds.
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