Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 18 October 2019.

India plugs loopholes in import ban of plastic scraps
India has clarified that imports of all types of plastic scraps are prohibited under existing rules, following reports that polyethylene terephthalic (PET) flakes and lumps from abroad continued to be bought by local recyclers despite the ban.

India phenol momentum likely sluggish until after Diwali
India’s phenol market sentiment might remain sluggish until post-Diwali, with the safeguard duty investigation keeping importers on the sidelines, and in the lead-up to a major holiday in the country.

China’s polyester market to see slowing demand and rising inventories
China’s polyester market may see a slowdown in demand and an increase in inventories amid the off-peak season and weak economy in China.

Chinese refiners to cut runs on battered margin, soaring freight costs
Refiners in China are mulling over slashing runs as a spike in freight costs have severely eroded their refining margins, industry sources said.

Asia SM falls to near four-year low; may soften further despite mixed outlook
Asia’s SM prices have hit a low not seen since 2016, sparking fresh concerns that SM could be heading down an even weaker path if supply fundamentals continue to be poor.

Vietnam’s PP demand growth could be outstripped by international supply
While demand for polypropylene (PP) in Vietnam continues to increase at a steady rate, market players are concerned that lengthening international supply could outstrip the pace of demand growth.