Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 12 April 2019.

China’s gasoline, gasoil retail-wholesale gap widens; outlook mixed
China’s gasoline demand is expected to pick up in mid-July as use of air-conditioning in automobiles increases during higher temperatures whereas gasoil demand is likely to soften in rain related lull season.

China’s Q3 mixed aromatics imports to drop further
China’s mixed aromatics imports are likely to drop further in the third quarter on expectations of sustained import losses and increasing supply of domestic material.

Asia isomer-grade MX market supported by limited production
Asia’s isomer-grade mixed xylene (MX) prices surged by 9.7% from the start of the week to hit their 2.5-month highs, and the market may stay supported by limited production.

NE Asian hydrous ethanol outlook unclear on hazy supply conditions
Spot import prices of b-grade hydrous ethanol in northeast (NE) Asia were stable to soft in the week ended 10 July but the outlook for this sector remains unclear amid fundamental differences in the two main supply regions.

SE Asian biodiesel to face subdued export market ahead
Spot prices of palm methyl ester (PME) biodiesel in southeast (SE) Asia were stable in the week ended 11 July with market participants expecting a subdued export environment in coming months.

India’s MIBK only market seeing demand growth in Asia
Methyl isobutylene ketone (MIBK) in India is the sole market in Asia to have seen a consistent uptick in demand since 2016, according to market players.

LAB sentiment cautious on limited spot availability
Sentiment in Asian linear alkylbenzene (LAB) market remained cautious amid limited spot availability.

East Asia 2-EH faces weak demand on negative plasticizers margin
While high propylene prices have helped to bolster spot 2-ethylhexanol (2-EH) market in east Asia, demand for 2-EH was lacking in the wake of negative margin in downstream plasticizers.

Ample supply, weak demand weigh on India NBR market
Ample supply and weak demand are weighing on India’s acrylonitrile butadiene rubber (NBR) spot market.

Asia naphtha buoyed by crude oil jump, spot demand
Asia’s naphtha markets were bolstered by a jump in global crude oil futures overnight, while steady spot demand lent market support.

China PE braces for new capacity; oversupply to be offset by shutdowns
China’s polyethylene market (PE) market is bracing for new supply as two new units are expected to start up in the third quarter.

Asia IPA sentiment seen firming on tight supply, bullish feedstock values
Sentiment in Asia isopropanol (IPA) could see a further pickup in the near term, propelled by bullish acetone and propylene values, as well as reduced stocks.

Asia benzene surges on increased US arbitrage opportunities
The Asia benzene market remained firm with a potential increase in cargo movements to the US, as the arbitrage window widened on demand uptick in the West.

Easing headwinds in Asia TiO2 market; defies bearish outlook
After several months of downtrending prices, sentiment in Asia’s titanium dioxide (TiO2) market has taken a turn for the bullish, defying an initially downbeat outlook.

Asia naphtha slides on soft crude oil; spot demand returns
Asia naphtha markets slipped in tandem with easing crude oil futures, but a return of spot demand coupled with an anticipated fall in excess supply may well provide some needed support.

China PP market to outperform PE in H2 despite more new capacities
China’s polypropylene (PP) market is set to be weighed by a high number of plant start-ups in the second half of this year.

China propylene prices rise on heavy unit shutdown
China’s propylene prices have posted a long streak of increases since mid-May on unexpected shutdowns at a number of domestic and overseas plants.