Asia top stories – weekly summary
ICIS Editorial
20-Jan-2020
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 17 January 2020.
Asian petchem markets take a breather ahead of
Lunar New Year
Asia’s petrochemical markets have slowed down
ahead of the Lunar New Year holiday as
manufacturing activity dwindles, limiting trade
activity in the region.
China petrochemical futures fall; markets shrug
off trade deal
China’s petrochemical futures markets fell on
Thursday, largely shrugging off the signing of
the US-China phase one trade deal, which will
not lead to an immediate rollback of
prohibitive tariffs between the two economic
giants.
Asia petrochemical markets lukewarm on US-China
trade deal
Petrochemical players in Asia do not expect the
US-China phase 1 trade deal to translate into
better market conditions in the near term, as
tariffs on most products were not lifted.
China crude import expected to grow at slower
pace in 2020
China is expected to import 530m-540m tonnes of
crude oil in 2020, a growth of a much slower
pace of around 7% from the previous year as
weak fuel demand may restrain refinery
throughput, based on ICIS forecast data.
China Dec exports growth sparks hopes of ‘20
global trade recovery
China’s export growth in December 2019 may have
signaled the bottoming out of the global trade
downturn amid a US-China trade truce.
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