Asia top stories - weekly summary

Author: ICIS Editorial

2021/02/22

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.