Asia top stories – weekly summary
ICIS Editorial
20-Jan-2025
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 17 January.
UPDATE: Oil jumps by
more than $1/bbl on fresh US sanctions on
Russia
By Nurluqman Suratman 13-Jan-25 11:54
SINGAPORE (ICIS)–Oil prices surged by more
than $1/barrel on Monday on supply disruption
concerns following latest round of US
sanctions against Russia’s energy sector.
Strong upstream market,
seasonal demand support Asia isomer
MX
By Jasmine Khoo 14-Jan-25 12:10 SINGAPORE
(ICIS)–Strong overall performance in crude
oil futures is poised to lend support to
Asia’s isomer grade mixed xylenes (MX) market
in the near term, although uncertainty looms
over the region ahead of the incoming Donald
Trump administration in the US.
China posts record
trade surplus in 2024; trade tensions
threaten exports
By Nurluqman Suratman 14-Jan-25 17:30
SINGAPORE (ICIS)–China has been rushing to
ship out goods ahead of new US tariffs under
the Trump administration which should keep
exports growth strong in the short term, but
external demand is projected to slow in line
with a weaker global economy in 2025.
ICIS China Dec
petrochemical index inches up; Jan demand
hazy
By Yvonne Shi 15-Jan-25 15:55 SINGAPORE
(ICIS)–The ICIS China Petrochemical Price
Index in December increased by an average of
1.2% from the previous month, largely on
account of tight supply in some markets, with
players not expecting a strong demand
recovery in the near term.
China PP cargoes
pre-sold at lower prices may impact
post-holiday demand
By Lucy Shuai and Zhibo Xiao 15-Jan-25 12:01
SINGAPORE (ICIS)–Downstream factory activity
in China has been gradually winding down
ahead of the Lunar New Year holidays from 28
January-4 February, resulting in weaker spot
demand for polypropylene (PP).
India petrochemical
prices rise as rupee tumbles to all-time
low
By Jonathan Yee 16-Jan-25 15:25 SINGAPORE
(ICIS)–India’s currency – the rupee –
slumped to a record low in the week, pushing
up both domestic and import prices of some
petrochemicals in the south Asian country
amid stable demand.
Indonesian rupiah
tumbles to 6-month low after surprise key
rate cut
By Nurluqman Suratman 16-Jan-25 15:48
SINGAPORE (ICIS)–The Indonesian rupiah fell
to its weakest level in more than six months
on Thursday following an unexpected loosening
of monetary policy on 15 January to spur
growth in southeast Asia’s largest economy.
PODCAST: Asia BD
bullish on supply constraints, but demand
outlook hazy
By Damini Dabholkar 17-Jan-25 13:32 SINGAPORE
(ICIS)–The Asian spot market for butadiene
(BD) saw a bullish start to 2025, as prices
in both Chinese yuan and US dollar terms
surged dramatically. In this latest podcast,
ICIS senior editor Ai Teng Lim and industry
analyst Elaine Zhang come together to discuss
the factors moving prices and to take a peek
into what may lie ahead for downstream
demand.
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