Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 16 April 2021.

NE Asia ethylene gains capped by sluggish China spot demand for May
Northeast Asia’s ethylene (C2) import prices rose ahead of a series of cracker turnarounds across the region, but weak restocking activity in the leading Chinese market has set a ceiling to the price gain.

Mideast petrochemical supply mixed; demand slows amid Ramadan
Petrochemical supply conditions are mixed in the Middle East, with trade limited for some products while cargo availability is tight when it comes to base oils, polyols and polystyrene in the first week of Ramadan.

India PTA imports to slow amid renewed pandemic-related curbs
India’s import demand for purified terephthalic acid (PTA) is expected to slow down in the near term as the country grapples with surging coronavirus infections.

India petrochemical trades slow down on fresh restrictions, weak rupee
Petrochemical trades in India are being weighed down by a fresh wave of restrictions on businesses to stem the spike in coronavirus cases in the south Asian nation, accompanied by a plunging rupee that makes imports more expensive.

Singapore’s Q1 economy grows 0.2% amid manufacturing expansion
Singapore’s economy grew by 0.2% year on year in the first quarter, the country’s first economic growth since the fourth quarter of 2019 amid continued expansion in the manufacturing sector, official preliminary data showed on Wednesday.