Asia top stories – weekly summary
ICIS Editorial
08-Aug-2022
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 5 August 2022.
Japan’s Mitsui Chem
fiscal Q1 profit falls 34% on weak materials
earnings
Mitsui Chemicals’ first quarter-to-June 2022
net profit declined by 34.3% year on year,
weighed down by lower bisphenol-A (BPA) prices
and a deceleration in automotive production,
the Japanese producer said on Friday.
South
Asian PS offers slump on weak
SM
The spot polystyrene (PS) market in south Asia
has softened, tracking the sharp losses in
styrene monomer (SM) prices in recent weeks.
Asia
naphtha slumps to over seven-month low on tepid
demand
Asia’s naphtha prices are pressured down by
downbeat demand amid diminishing downstream
margins and ample regional supply.
Japan’s Asahi Kasei
fiscal Q1 net profit falls 36% on lower
margins
Asahi Kasei’s fiscal first-quarter net profit
declined by about 36% year on year as lower
margins offset a double-digit increase in
sales, the Japanese producer said on Thursday.
INSIGHT: Recycling as a
solution to marine plastics
pollution
Plastics pollution of the marine environment is
a global challenge that the world is trying to
tackle today.
Woolworths, Pact tie up
to bolster use of R-PET and
R-PE
Australian supermarket giant Woolworths Group
will replace more single-use plastics from its
retail products and bolster the use of recycled
polyethylene terephthalate (R-PET) and recycled
polyethylene (R-PE) across chains.
Asia
MMA falls 10% in July on weak demand; producers
mull output cuts
Asia’s methyl methacrylate (MMA) spot prices
shed more than 10% in July owing to poor demand
and weakness in China’s domestic market, which
may persist in August.
OUTLOOK: Asia epoxy
resins to stay sluggish; price competition may
intensify
Uncertain end-demand outlook and recession
fears continue to haunt Asia’s epoxy resins
market, with aggressive exports from China
forcing some regional suppliers to lower offer.
Asia
July industries – a mixed bag as battle with
inflation continues
Asia’s manufacturing sector in July presented a
mixed performance, with major economies in the
northeast showing a marked slowdown in
activity, as the region continues to contend
with high input costs and weak demand.
OUTLOOK: Asia PP wrestles
with recession fears and production capacity
expansion
Asia’s polypropylene (PP) market is expected to
continue its struggle against slow demand as a
result of recession fears and looming
production capacity expansion that would put
even greater pressure on suppliers.
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