Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 3 April 2020.

Asia manufacturing slowdown in March points to recession
Asia’s factories look set to battle a global recession this year following the sharp contraction in the region’s manufacturing economy in March as overseas demand and domestic spending plummeted in the wake of the coronavirus pandemic.

Asia petrochemical makers recalibrate output amid pandemic-hit demand
Petrochemical producers in Asia are looking at further reducing output in the face of a sharp demand downturn and low crude prices that could last months amid a coronavirus pandemic.

China industries face strong headwinds after March recovery
China’s manufacturing sector is facing strong headwinds despite pulling a sharp recovery in March as the global economy has plunged into a recession.

ICIS China March petrochemical index slumps on crude crash, pandemic woes
Petrochemical prices in China slumped in March, hit by heavy losses in upstream crude market just as the country was emerging from severe pandemic-related restrictions that nearly ground its production and trades to a halt in February.

Indian plastic processors face labour shortage, logistics woes amid lockdown
Labour shortage and logistics problems would affect overall production of India’s plastic processors during the country’s 21-day lockdown, although the government’s decision to allow unhindered transport of all goods may have eased some pressure on the industry.