Asia top stories - weekly summary

Author: ICIS Editorial


SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 June 2019.

NE Asia ethylene falls to multi-year lows; outlook weak
Ethylene prices in northeast Asia fell for a third consecutive week to levels last seen in September 2015 due to a supply glut caused by reduced downstream output.

Asia TDI set to remain plagued by tepid cargo uptake in June
Asia’s toluene diisocyanate (TDI) spot market is poised to be plagued by persistently bearish market sentiment going ahead into June, against a backdrop of tepid demand and pessimistic economic conditions.

Stiff competition from Chinese exports to weigh on Asia TiO2 Q3 contracts
Strong competition from Chinese exports is likely to weigh on discussions for third quarter titanium dioxide (TiO2) contracts in Asia.

Asia spot MEK faces weak demand, softer upstream after recent downtrend
Asia’s spot methyl ethyl ketone (MEK) market faced continued downward pressure in the past week, with near-term demand expected to remain lackluster because of the Eid ul-Fitri holidays in many parts of southeast Asia.

Vietnam PP weighed down by weak demand; competitive Chinese exports
Vietnam polypropylene spot market, which saw prices falling for four consecutive weeks, will continue to face weak demand and the availability of competitively priced Chinese exports in the near term.

Asia EPDM downtrend on eighth month; demand may not pick up soon
Asia's ethylene-propylene-diene monomer (EPDM) prices have been falling since October 2018 because of a supply glut and slowing demand, which may not pick up in the near future.

Asia’s naphtha crack spreads sink to 2012 levels; persistent glut
Asia’s naphtha crack spreads have fallen to their lowest levels in seven years, amid a fragile market grappling with a supply overhang that could linger.

Asia ABS retreats on weak demand amid trade war
The Asia acrylonitrile-butadiene-styrene (ABS) market weakened further as demand in the region is soft and is likely to stay that way in the near term especially as US-China trade war is keeping buyers away.

China domestic ethanolamines likely to stay dull on feedstock falls
Ethanolamines supply in domestic China market is likely to remain long that will continue to weigh on prices, exacerbated by drastic feedstock ethylene oxide (EO) falls recently.

India C6 MLLDPE import market under pressure on thin buying interest
The Asia non-dutiable C6 metallocene linear low density polyethylene (MLLDPE) market was under pressure amid thin buying interest and may continue to be so due to inventory build-up.

Asia LAB under pressure on weak upstream market, dull demand
Asia’s spot linear alkylbenzene (LAB) market is under pressure on weakened upstream values and continued lackluster demand.

Asia polyacetal slumps to two-year lows; demand to stay subdued
Asia’s polyacetal (POM) prices have slumped to their two-year lows after eight consecutive months of downtrend largely due to the US-China trade war, with demand expected to remain subdued.

China may see strong gasoline demand but weak gasoil market in early Jun
China is likely to see strong gasoline but weak gasoil demand in June affected by the upcoming Dragon Boat Festival holiday (7-9 June 2019) and the rainy season, amid a high possibility that the escalating China-US trade war will continue pressuring the domestic oil market.

Asia ACN falls for first time since mid-Jan; supply to stay tight
Asia’s acrylonitrile (ACN) prices fell for the first time since mid-January, weighed down by weak performance of downstream markets, even as supply is expected to remain limited due to ongoing and upcoming plant turnarounds.

Asia benzene down on crude oil slump; ample availability in near term
Asia's benzene market was under downward pressure as a result of a slump in crude oil futures, while availability is expected to remain ample as new plants are expected to startup.

Asia's factory activity in May remains weak as escalating trade war fans worries
Asia’s manufacturing activity broadly weakened last month with export markets expected to remain weighed down in the near term by the escalating trade war between the US and China.

Asia naphtha falls below $500/tonne on supply glut, oil price slide
Asia’s naphtha prices extended their downward spiral on the back of weakening oil prices and a persistent supply glut, as cargo deals fetch deeper discounts.