SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 20 March 2020.
Region-focused petrochemical trades; start-up
delays likely amid pandemic
Petrochemical trades may be localized at regional levels while scheduled start-ups of new capacities are likely to be delayed as global demand takes a strong hit from the combination of a pandemic-induced recession and low oil-price environment.
SE Asia LLDPE hovers near record lows on crude
falls, virus controls
Price discussions in the southeast Asian linear low density polyethylene (LLDPE) import market are teetering on the brink of record lows due to recent decline in crude oil prices and as virus control measures in some regions hit end-user demand for PE resins.
Asia petrochemical markets seek new lows after
Key petrochemical markets in Asia plunged to new lows on Thursday, following a collapse in crude prices overnight on concerns over weakening demand amid the coronavirus pandemic.
Asia petrochemical markets plumb 11-year lows;
demand recovery far off
Prices of key petrochemical markets in Asia fell to their lowest since the 2008 global financial crisis, faced with reality of shrinking demand that may worsen as the year progresses as a growing number of countries impose strict measures to contain a deadly coronavirus pandemic.
Asia benzene at 11-year low on weak crude;
Asia benzene market tumbled below $500/tonne FOB (free on board) Korea this week - a level it last saw in the aftermath of the financial crisis in 2008 - as massive losses in the crude oil markets weighed on sentiment.