SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 19 February 2021.
South Asia PP surges on buying frenzy amid US
disruptions
Polypropylene (PP) prices in south Asia have
surged this week on frenzied buying as outages
at US plants could aggravate supply shortage in
the region.
Oil prices extend strong gains on US Gulf Coast
cold snap
Oil prices rose by more than $1/bbl on
Thursday, with Brent on its fifth day of gains,
as severe cold conditions in Texas and
surrounding regions in the US led to refinery
shutdowns and production cuts.
Asia fatty acids track CPO gains on US soybean,
corn oil supply disruption
Asia’s fatty acids market has picked up
momentum this week on higher feedstock crude
palm oil (CPO) prices despite the Chinese
market being shut for the Lunar New Year
holiday.
Thailand's PTTGC Q4 net profit surges on strong
margins as prices spike
PTT Global Chemical's (PTTGC) fourth-quarter
net profit surged to Thai baht (Bt) 6.41bn from
the same period last year on the back of higher
product prices, with sales up 3% year on year.
Quake-triggered power outage shuts some Japan
petrochemical plants
Some petrochemical plants in northeastern Japan
were shut by widespread power outage caused by
a 7.3-magnitude earthquake that hit the country
on 13 February.