SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 26 June 2020.
Thin liquidity extends in Asia styrene for the
second consecutive week
Thin liquidity in Asia's styrene monomer (SM) market was extended for the second consecutive week, ahead of the holidays in some parts of northeast Asia, with more activity expected in early July as conflicting market outlooks continue to be present.
Asia BDO appears to consolidate after months of
decline; outlook remains unclear
The Asia butanediol (BDO) market continued to consolidate after months of decline, with prices holding in a steady range at around $1,160/tonne CFR (cost and freight) China in recent weeks.
The output cuts in China from maintenance shutdowns from early June brought the average operating rate of plants down below 30% in June, from the high 40%s in late May.
Saudi Aramco to boost chem investment in Asia
Saudi Aramco will boost its chemicals investments in emerging economies, especially in Asia, the head of its downstream business told ICIS on Monday.
“We are actively taking steps to create a fully integrated business in Asia, covering everything from oil supply and refining to petrochemicals, specialty chemicals, lubes and base oils, marketing and sales,” said Abdulaziz Gudaimi, senior vice president of downstream at Saudi Aramco, in an interview with ICIS.
Asian petrochemical shares sharply lower on
virus fears, IMF growth downgrades
Asian petrochemical shares were sharply lower on Thursday amid renewed fears of a resurgence in coronavirus cases globally and after the International Monetary Fund (IMF) further slashed its growth forecasts.
Asia's petrochemical demand recovery in limbo
amid easing of restrictions
Asia’s petrochemical demand recovery is likely to be in limbo despite countries easing restrictions on their lockdowns, amid a resurgence of the coronavirus in Beijing.
New cases in Beijing and a global record single-day increase of nearly 190,000 coronavirus cases on Sunday signaled a world economy sullen with gloomy data.