SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 10 January 2020.
China PE import supply to tighten amid US-Iran
China’s supply of polyethylene (PE) imports from the Middle East could tighten should Iran decide to block an important trade channel amid heightened geopolitical tensions with the US.
Asia benzene to stay volatile amid crude oil
swing following Iran attack
Asia's benzene market remained volatile amid the swings in the crude oil market, complicated by rising tensions in the Middle East.
China refiners’ crude import costs to spike on
Rising tensions between the US and Iran would push up cost for Chinese crude oil importers and heighten logistics risks for the cargoes, but upward pressure on crude prices may be short-lived amid tepid demand, analysts said.
OUTLOOK '20: Asia base oils to face reduced
Group I, II supply
Asia’s Group II spot import market is likely to find support in Q1 2020 from reduced spot availability from South Korea and Taiwan – the main exporters of Group II in northeast Asia – following production cuts since H2 2019.
Singapore manufacturing economy recovers in
Dec, exports still seen weak
Singapore's manufacturing economy showed further signs of stabilisation at the end of 2019, based on the latest purchasing managers' indices (PMIs).
But weak external demand is expected to weigh on the sector in the near term, according to analysts.