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
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.