Asia top stories – weekly summary
ICIS Editorial
17-Jun-2019
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 14 June 2019.
China’s gasoline, gasoil retail-wholesale gaps
narrow sharply in mid-June
China’s gasoline demand from air conditioning
in vehicles may improve amid higher
temperatures, while gasoil demand is expected
to decline to relatively low levels because the
rainy season and floods will curb activities of
the outdoor construction sector.
China PP under pressure from trade war, new
capacities
China’s polypropylene (PP) import and domestic
markets face downward pressure from prospects
of supply glut and weak demand, brought on by
new capacities and the fallout in trade
negotiations with the US.
Asia BPA markets to be dampened by feeble
demand
Asia bisphenol A (BPA) markets are tapering off
against a backdrop of paltry demand and
brimming supply, a situation that may prolong
in the coming days.
Asia ABS extend losses on tepid demand amid
ongoing trade war
The Asia acrylonitrile-butadiene-styrene (ABS)
market weakened again this week as demand
across the region remained lacklustre.
Chinese SBR demand weakens on slump in auto
sales, slowing growth
Chinese demand for styrene butadiene rubber
(SBR) has weakened because of falling
automotive sales, weak market conditions and
slowing growth.
China PP prices rebound, economic uncertainty
to weigh on sentiment
China’s polypropylene (PP) prices rose this
week after recently hitting 23-month lows but
economic uncertainty and increasing supply is
expected weigh on business sentiment in the
near term.
China’s mixed aromatics imports may continue to
decline in June
China’s mixed aromatics imports may fall
further in June on the back of importers’
margin squeeze and falling gasoline prices.
India SBR demand to stay weak on falling auto
sales, slowing economy
India’s styrene butadiene rubber (SBR) demand
is expected to remain weak amid falling
automotive sales and a slowing economy.
Asia acetic acid markets rally on tight supply;
outlook mixed
Asia’s acetic acid spot prices have recently
rallied led by the Chinese market due to tight
supply, but stable downstream demand may be
offset by easing tight supply when several
plants recover from outages.
Asia MEK falls to 11-week low; bearish
sentiment persists
Methyl ethyl ketone (MEK) spot prices in Asia
have declined by around 17-19% over 11 weeks on
the back of perpetual high inventory levels,
with bearish sentiment expected to prevail in
the coming weeks.
Asia PMMA on 1-yr losing streak amid trade war;
eyes on G20 summit
Asia’s polymethyl methacrylate (PMMA) import
markets have been on a losing streak over the
past twelve months, as the long-drawn US-China
trade battle continues to rain blows on
consumer sentiment.
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