SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 February 2020.
SE Asia PS sentiment still healthy on snug
Sentiment in the polystyrene (PS) market in southeast Asia has been relatively healthy despite the bleak economic outlook cast by the coronavirus outbreak in Asia.
Asia’s ethyl acetate market to stay bolstered
by supply disruptions from China
Asia’s ethyl acetate (etac) market may remain bolstered by curtailed supply from China and escalating feedstock hydrous ethanol costs amid the worsening 2019-nCoV coronavirus outbreak.
Spreading coronavirus weighs on China’s oil,
China’s demand for oil and transportation fuel is expected take a deep blow from the devastating coronavirus and the biggest pressure will be on the first quarter, industry sources said. As of 5 February, the Chinese mainland has reported over 28,000 infected patients and more than 500 deaths from the epidemic.
China petrochemical makers to cut output;
consumption to weaken amid outbreak
Most petrochemical makers in China are expected to cut production amid a build-up up of inventory and expectations of weaker consumption in the months ahead amid the unabated spread of the deadly Wuhan coronavirus.
China petrochemical shares plunge on Wuhan
Shares of major petrochemical firms in China plunged on Monday as long-term economic worries about the coronavirus outbreak continued to weigh on investor sentiment.
China polyolefin producers cut output amid
China’s polyolefin suppliers have cut their post-holiday production due to logistics restrictions amid authorities’ efforts to contain the coronavirus outbreak.