Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from Asia and the Middle East for the week ended 20 September 2019.

Asia BPA prices gather steam on buying support
Asia’s bisphenol A (BPA) spot markets are gaining momentum, with buying activity envisaged to sustain ahead of the National holiday week in China.

Asia crude glycerine upward momentum dwarfed by slower buying
Asia’s crude glycerine prices remained supported by tight supply, but the upward momentum is likely to be dwarfed by slower buying in China.

Asia’s petrochemicals face pressure from Saudi supply uncertainty
Key Asian petrochemicals are facing pressure from lingering uncertainty from Saudi supply amid geopolitical tensions in the Middle East.

Asia/Middle East Q4 PE pipe demand typically softens
Asian demand for spot high density polyethylene (HDPE) black 100 pipe typically softens in the fourth quarter, and this may continue to weigh on producers’ sales.

Asia BD market insulated from China gains on long supply
Asia’s butadiene (BD) market is currently insulated from strong gains in China’s domestic market given expectations of an influx of deep-sea cargoes in the next two months, and fresh supply from a new regional plant.

Asia’s naphtha tumbles 7%; surrenders price gains
Asia’s naphtha prices sank by 7%, erasing most of Tuesday’s massive single-day jump in response to losses in crude oil futures, after Saudi Arabia’s energy minister stated the country’s oil supplies will be restored.

Crude oil retreats after surging most in 30 yrs on demand concerns
Crude oil prices retreated on Tuesday after nearly a 15% spike overnight, the sharpest oil market surge in 30 years triggered by attacks on Saudi Arabia’s oil facilities on 14 September.

Global PE markets on watch after crude spike, uncertainty persists
A significant uncertainty prevails over the near-term trend in polyethylene (PE) prices in response to the spike in global crude oil on worries over global supply after an attack on Saudi Arabia oil facilities.

Asia polyols market frets over supply after Sadara feedstock cut
Asia’s polyols market appeared to have been rattled by the attacks on a Saudi oilfield over the weekend, as the incident has affected some supply of feedstock to Sadara Chemical, which produces polyols and co-component isocyanates.