TOPIC PAGE: Coronavirus, oil price direction – impact on chemicals
Benchmark crude prices rose by more than $1/bbl on Friday following on from gains made in the previous session, OPEC and its allies (OPEC+) announced that they will maintain plans to raise production by 400,000 bbl/day in January 2022.
However, the producers’ group members, who met on 2 December, stated that they will continue to monitor the market and will adjust the plan if required.
Concerns over the impact of the Omicron COVID-19 variant on demand heightened by the re-introduction of travel restrictions in some countries has led to a decline in crude prices since 26 November, when news of the spread of the variant in South Africa emerged.
Global chemical sentiment has since become bearish due to Omicron, with buyers sidelined at a time of uncertainty.
The uncertainties surrounding energy price direction in December and through the winter months in northern Europe weigh heavily on regional petrochemical producers.
The European caprolactam (capro) market faces weaker buying interest for December, ample supply and ongoing pressure from high production costs.
US Q1 glycerine contract negotiations are ongoing. Most major contracts are finalised, with freely negotiated settlements largely heard at least 15-20% higher from their Q4 levels.
US ethylene supply is set to loosen as the year comes to a close, with plant turnaround completions and two new steam cracker start-ups approaching.
In ICIS video, industry analyst Veronica discusses China’s toluene market, which is currently in backwardation amid unusually buoyant prompt prices.
Southeast Asian isopropanol (IPA) markets are expected to see bearish sentiment in the first quarter of 2022, as upstream acetone and propylene are unlikely to provide significant support to a market that is already struggling with weak seasonal demand and supply chain disruptions.
Despite healthier margins amid falling feedstock prices, bearish sentiment continues in the northeast Asian propylene spot markets, with participants anticipating limited support from derivative sectors.
Updated on 3 December with news story links
On this topic page we analyse the impact of coronavirus and oil price dynamics on chemical markets and bring together the latest news reported by ICIS.
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Crude prices rise
further following OPEC+
By James Dennis 03-Dec-21 16:45 SINGAPORE (ICIS)–Benchmark crude prices rose by more than $1/bbl on Friday following on from gains made in the previous session, OPEC and its allies (OPEC+) announced that they will maintain plans to raise production by 400,000 bbl/day in January 2022.
Global chemical sentiment
bearish on Omicron spread
By Felicia Loo 03-Dec-21 13:15 SINGAPORE (ICIS)–Global chemical sentiment has become bearish amid the rise of the Omicron variant of the coronavirus, with buyers sidelined at a time of uncertainty and as several countries undertook imposed travel restrictions and temporary border closures.
INSIGHT: SE Asian IPA Q1
market sentiment weak on shipping
By Julia Tan 03-Dec-21 11:00 SINGAPORE (ICIS)–Southeast Asian isopropanol (IPA) markets are expected to see bearish sentiment in the first quarter of 2022, as upstream acetone and propylene are unlikely to provide significant support to a market that is already struggling with weak seasonal demand and supply chain disruptions.
US crude futures
finish up 93 cents/bbl on rollercoaster
By Ignacio Sotolongo 03-Dec-21 06:01 HOUSTON (ICIS)–NYMEX WTI crude futures experienced another wild intra-day low/high swing of $5.00/bbl before showing a preference for the upside and settling at $66.50/bbl for January delivery. It was a day of headline trading, with concerns that the Omicron coronavirus variant would result in lockdowns and travel restrictions adversely impacting global economic growth.
US Q1 glycerine
contract negotiations ongoing amid major cost
By Lucas Hall 03-Dec-21 07:50 HOUSTON (ICIS)–US Q1 glycerine contract negotiations are ongoing. Most major contracts are finalised, with freely negotiated settlements largely heard at least 15-20% higher from their Q4 levels.
C3 bearish despite healthier
By Julia Tan 02-Dec-21 20:57 SINGAPORE (ICIS)–Despite healthier margins amid falling feedstock prices, bearish sentiment continues in the northeast Asian propylene spot markets, with participants anticipating limited support from derivative sectors.
INSIGHT: Omicron variant
may further erode US PE
By Al Greenwood 02-Dec-21 09:09 HOUSTON (ICIS)–The Omicron variant of the coronavirus could further erode US margins for polyethylene (PE) if travel restrictions imposed to limit the spread of the disease lead to a sustained decline in oil prices.
INSIGHT: Energy crisis in
Europe intensifies as weather takes its
By Nigel Davis 01-Dec-21 23:23 LONDON (ICIS)–The uncertainties surrounding energy price direction in December and through the winter months in northern Europe weigh heavily on regional petrochemical producers.
Influx of US
ethylene supply on the way as demand remains
By Michael Sims 01-Dec-21 07:58 HOUSTON (ICIS)–US ethylene supply is set to loosen as the year comes to a close, with plant turnaround completions and two new steam cracker start-ups approaching.
demand weaker in December on downstream
By Marta Fern 30-Nov-21 22:35 LONDON (ICIS)–The European caprolactam (capro) market faces weaker buying interest for December, ample supply and ongoing pressure from high production costs.
INSIGHT: Omicron variant,
Fed’s hawkish tilt point to slower US and
global economic growth
By Joseph Chang 30-Nov-21 16:25 NEW YORK (ICIS)–The emergence of the Omicron variant and the US Federal Reserve’s new hawkish tilt point to slower US and global economic growth going forward, putting pressure on the outlook for economically sensitive sectors such as chemicals.
crude futures plunge $3.77/bbl on vaccine
By Ignacio Sotolongo 30-Nov-21 15:44 HOUSTON (ICIS)–NYMEX WTI crude futures experienced another round of length liquidation, settling at $66.18, down $3.77, for January delivery on concerns that COVID-19 vaccines may not be as effective against the Omicron variant.
PODCAST: Omicron risks
further chemicals supply chain and demand
By Will Beacham 30-Nov-21 09:22 BARCELONA (ICIS)–The Omicron coronavirus variant may further disrupt supply chains while impacting demand for chemical markets around the world.
toluene flips into backwardation as prompt
By Veronica Zhang 30-Nov-21 16:20 SINGAPORE (ICIS)–Watch industry analyst Veronica discuss China’s toluene which is currently in backwardation amid unusually buoyant prompt prices.
coronavirus variant concerns slam oil, raise
By Nigel Davis 27-Nov-21 00:42 LONDON (ICIS)–A concerted effort by major consuming nations to cap the run up in crude oil prices this week, on the face of it, failed miserably – prices rose after the US, China, India, South Korea, Japan, and the UK agreed to release reserves. Concerns over fuel and energy price inflation are pitted against the reluctance of the OPEC+ producing nations to pump significantly more crude.
sharply amid oversupply fears and new
coronavirus threat concerns
By James Dennis 26-Nov-21 17:08 SINGAPORE (ICIS)–Crude fell sharply during Asian trading with ICE Brent futures falling by close to 5% amid heightened concerns of a potential oversupply of crude in first quarter of 2022 resulting from US-led inventory release plans by leading consumers, and heightened demand worries following the emergence of new coronavirus variant.
NE Asia C2 supply
to rise in Dec/early ‘22 on increased S Korea
By Yeow Pei Lin 26-Nov-21 12:58 SINGAPORE (ICIS)–Northeast Asia’s spot ethylene (C2) supply is expected to rise in December and January on the back of increased output and weak downstream conditions in South Korea.
oxo-alcohols chain stabilises in
By Eashani Chavda 26-Nov-21 00:53 LONDON (ICIS)–European oxo-alcohols availability has improved in Q4 following the lifting of force majeures by BASF and OQ. ICIS Editors Eashani Chavda, Nicole Simpson, Nick Cleeve and Mathew Jolin-Beech discuss the latest for the oxo-alcohols chain including; glycol ethers, butyl acetate (butac) and acrylate esters.
opens slightly for Asia and Europe
By Julia Tan 25-Nov-21 19:42 SINGAPORE (ICIS)–The arbitrage window has opened slightly between Asia and Europe for propylene, with some Asian suppliers hoping to send cargoes to European buyers with better netbacks.
markets to remain bullish into Q1 as demand
By Lucas Hall 25-Nov-21 07:00 HOUSTON (ICIS)–US glycerine markets are expected to remain bullish well into Q1 as demand continues to outpace supply because of ongoing disruptions globally.
dual control policy – what
By Jasmine Khoo 25-Nov-21 12:00 SINGAPORE (ICIS)–China has pledged to achieve peak carbon emission by 2030 and carbon neutrality by 2060, and the dual control policy is part of this movement towards an environmentally-friendly future. In this episode of the ICIS Podcast, Markets Editor Julia Tan speaks with Jimmy Zhang, ICIS analyst to delve into the policy; looking at what it is, how it has broadly affected the markets, and how long its effects can be expected to last.
High US TEG prices attract Europe imports; DEG
By Antoinette Smith 24-Nov-21 08:51 HOUSTON (ICIS)–High US triethylene glycol (TEG) spot prices have attracted imports from Europe, as domestic demand continues to significantly outpace supply.
US ABS faces
continued tight supply through
By John Donnelly 22-Nov-21 22:50 HOUSTON (ICIS)–US acrylonitrile-butadiene-styrene (ABS) supplies will remain tight through the end of the year but the resumption of two plants and falling auto demand could offer relief in Q1.
PODCAST: Latest global
ACN supply improved but costs a concern for US
By ICIS Editorial 24-Nov-21 19:06 LONDON (ICIS)–The global acrylonitrile (ACN) markets are calmer than in recent months but there are many factors still to take into account. In this podcast, ICIS pricing editors Jane Massingham (Europe), Lucas Hall (US) and Li Li Chng (Asia) discuss the latest developments in the market and what can be expected in the short-term.
German states urged to
adopt compulsory COVID-19 vaccinations, US
warns against travel
By Stefan Baumgarten 23-Nov-21 11:38 LONDON (ICIS)–Germany’s state governments must consider compulsory vaccination to contain the unrelenting rise in infections from the coronavirus’ fourth wave, the head of the country’s prosperous Baden-Wurttemberg state said on Tuesday.
downtrend pauses on firmer demand in late
By Eashani Chavda 22-Nov-21 19:13 LONDON (ICIS)–European methanol demand is expected to remain robust heading into December, supporting spot prices after a rapid decline.
US MA slightly
less firm as supply-and-demand balance
By Tarun Raizada 19-Nov-21 07:00 HOUSTON (ICIS)–US maleic anhydride (MA) is trending up in November, but is a little less firm than the previous few months as the supply-and-demand balance has improved.
receiving support from crude going into
December while demand
By Adam Burkin 19-Nov-21 05:50 HOUSTON (ICIS)–US benzene continues to receive support from rising crude costs despite weakening downstream demand.
supply tightness to persist, demand
By Zimeng Li 18-Nov-21 17:30 SINGAPORE (ICIS)–China’s vinyl acetate monomer (VAM) market is expected to remain in short supply in the near term despite a slight ease in tightness amid import inflows, while performance in downstream demand will likely remain mixed.
ADD measures may further weigh on Asia MEG
By Judith Wang 18-Nov-21 14:39 SINGAPORE (ICIS)–The definitive antidumping (ADD) measures for US and Saudi Arabia imports to Europe may further weigh on Asia’s monoethylene glycol (MEG) market, which has been plagued by rising new supply and dwindling demand.
melamine set to remain bearish amid slow
By Joson Ng 18-Nov-21 11:15 SINGAPORE (ICIS)–Watch ICIS editor Joson Ng discuss the latest developments in the Asian melamine market.
VIDEO: China’s PP exports
may increase on weak domestic
By Lucy Shuai 17-Nov-21 14:06 SINGAPORE (ICIS)–In this video, ICIS industry analyst Lucy Shuai shares her insight thoughts on China’s polypropylene market, which heavily swung this year.
epoxy resins firm on growing costs, snug
By Heidi Finch 17-Nov-21 23:38 LONDON (ICIS)–Escalating costs and largely snug Europe epoxy resins supply have led to firmer talks for domestic product in November.
PODCAST: Asia ABS
gains capped by sluggish demand for
By Jasmine Khoo 16-Nov-21 16:42 SINGAPORE (ICIS)–Asia acrylonitrile butadiene styrene (ABS) prices did not climb to earlier highs during the traditional peak of October and November, reflecting comparatively softer demand. In this podcast, Jasmine Khoo speaks with editor Angeline Soh about recent developments in the Asian ABS market.
feedstock costs continue to pressure US
By Anna Matherne 16-Nov-21 05:36 HOUSTON (ICIS)–US ethyl acetate (etac) spot prices continue to see pressure from high upstream acetic acid prices, heading into the year’s end.
Europe PA bullish
fundamentals support prices at historically
By Anne-Sophie Briant-Vaghela 15-Nov-21 23:22 LONDON (ICIS)–The European phthalic anhydride (PA) market remains bullish in November when, typically, demand starts tapering off.
PVC situation to affect wider Asia
By Jonathan Chou 12-Nov-21 12:28 SINGAPORE (ICIS)–While spot negotiations were limited in the week, players in Asia’s polyvinyl chloride (PVC) spot market are keeping a close eye on China’s domestic market conditions ahead of upcoming December spot negotiations.
demand normalising but supply constraints
By Antoinette Smith 12-Nov-21 04:54 HOUSTON (ICIS)–US plasticizers dioctyl phthalate (DOP), diisononyl phthalate (DINP) and dioctyl terephthalate (DOTP) continue to be in tight supply, amid persistent shortages of feedstocks and healthy demand into construction and – to a lesser extent – automotive applications.
ACN continues to see healthy ABS
By ICIS Editorial 11-Nov-21 00:36 LONDON (ICIS)–A balanced acrylonitrile (ACN) market in Europe continues to see a healthy pull on demand from the acrylonitrile-butadiene-styrene (ABS) sector.
sees Europe acetone spot rise, but market still
battling some oversupply
By Jane Gibson 11-Nov-21 17:00 LONDON (ICIS)–European acetone spot prices finally turned a corner after months of decline and stagnation, with sellers continuing to target further increases this week.
INSIGHT: China MX
market might suffer oversupply and weak
By Veronica Zhang 10-Nov-21 23:02 SINGAPORE (ICIS)–China domestic spot mixed xylenes (MX) prices soared in October after three-months of narrow swings, but have been volatile recently. This is mainly because supply-demand fundamentals and the related toluene market have shifted over the period.
chemical output, trade poised for growth in
2021-2022 – GPCA
By Nurluqman Suratman 10-Nov-21 12:54 SINGAPORE (ICIS)–The Arabian Gulf petrochemicals industry in 2021-2022 is poised to register growth in output, sales and international trade, according to the Gulf Petrochemicals and Chemicals Association (GPCA).
VIDEO: China PTA
producers face weak margins amid
By Winnie Huang 09-Nov-21 15:29 SINGAPORE (ICIS)–Watch industry analyst Winnie Huang discuss China’s purified terephthalate acid (PTA) market which is currently being weighed by oversupply conditions.
EPDM market boosted on tight supply and demand
By Jasmine Khoo 08-Nov-21 17:21 SINGAPORE (ICIS)–Asia’s import prices for ethylene propylene diene-monomer (EPDM) have held firm at multi-year high levels for more than three months, supported by recovery of downstream production post-second wave of pandemic, and sustained limitations in regional supplies.
PODCAST: China MX
market might suffer oversupply and weak
By Veronica Zhang 05-Nov-21 13:56 SINGAPORE (ICIS)–ICIS analyst Jady Ma and Veronica Zhang discuss the current state of China’s mixed xylenes (MX) market.
PBT stays soft despite elevated BDO, demand
By Clive Ong 05-Nov-21 11:16 SINGAPORE (ICIS)–Asia’s polybutylene terephthalate (PBT) market was stable-to-soft as demand in the region remains tepid.
must accelerate innovation for low to
By Al Greenwood 04-Nov-21 21:02 COLORADO SPRINGS (ICIS)–The chemical industry must accelerate the pace of transition to a low or zero-carbon-emissions future with faster and bolder investments and innovations in partnership with start-ups, other sectors and governments.
Europe PS supply
tight in November with strong demand as price
By Stephanie Wix 04-Nov-21 04:03 LONDON (ICIS)–Supply is tight in the European polystyrene (PS) market and is very tight in particular for general purpose PS (GPPS) due to an ongoing force majeure.
India’s surfactant players back sustainability;
By Felicia Loo 03-Nov-21 19:42 SINGAPORE (ICIS)–Sustainability is at the forefront of concerns among surfactant companies in India, as the pandemic turns a corner in the country to some degree, and consumption is set to rise.
Europe EPS supply
shortage to continue in November, strong demand
By Stephanie Wix 03-Nov-21 02:29 LONDON (ICIS)–The supply shortage in the European expandable polystyrene (EPS) market is expected to continue into November, driven by strong demand amid ongoing production and logistics issues.
highlights how chemicals must ‘wake up and
smell the coffee’
By Will Beacham 02-Nov-21 23:42 BARCELONA (ICIS)–Global chemical industry leaders must act now to plan for rapid transformation as the COP26 climate change conference shows the size of the challenges facing the world.
US November MEK
market poised to experience further supply
By Larry Terry 01-Nov-21 23:00 HOUSTON (ICIS)–US methyl ethyl ketone (MEK) supply is poised to tighten further in the coming months as the import-dependent market faces production slowdowns in China on top of ongoing shipping logistics problems from that region.
SE Asia PE Nov
offers largely firmer as import supply remains
By Izham Ahmad 29-Oct-21 11:31 SINGAPORE (ICIS)–Initial offers for November shipments of polyethylene (PE) imports in southeast Asia were announced largely firmer, with Middle East suppliers increasing their offers due to the limited spot volumes available.
October formula contracts decrease on upstream
By Melissa Hurley 29-Oct-21 01:53 LONDON (ICIS)–October styrene butadiene rubber (SBR) formula business decreased on the back of losses in the upstream butadiene (BD) market, while discussions were challenging this month due to conflicting market factors.
PX supply stays ample, mounting cost pressure
By Samuel Wong 28-Oct-21 10:23 SINGAPORE (ICIS)–Asian paraxylene (PX) markets to continue to face mounting costs pressure amid ample supply going forward.
Group I base oils November talks focus on
By Eashani Chavda 27-Oct-21 17:52 LONDON (ICIS)–European domestic Group I base oils price discussions for November are underway, with rising feedstock and energy costs driving targeted increases by some refiners.
China’s oil usage to
plateau in 2026-2030 as clean energy
accelerates – China State
By Jean Zou 28-Oct-21 15:30 SINGAPORE (ICIS)–Oil replacement by cleaner sources of energy such as electricity, hydrogen and natural gas in various sectors including transportation and agriculture, as well as curbs in downstream petrochemical capacity expansions will drive China’s oil consumption to plateau during 2026-2030.
faces pressure as crude oil prices
By Sophie Udubasceanu 27-Oct-21 00:21 LONDON (ICIS)—While unwinding its outstanding output cuts, OPEC+ has resisted pressure to further raise supply amid concerns of a potential growing oversupply of crude in 2022. Following the recent surge in energy prices, the ICIS global oil editor Sophie Udubasceanu talks to senior oil editor James Dennis about the latest developments in the market.
property bubble burst could trigger global
By Will Beacham 26-Oct-21 21:26 BARCELONA (ICIS)–A global recession is on the horizon as China’s property bubble bursts, triggering a collapse in industrial and chemicals demand around the world. In this Think Tank podcast, Will Beacham interviews ICIS Insight editor Nigel Davis, and Paul Hodges, chairman of New Normal Consulting.
INSIGHT: China power
crunch to ease, but not
By Fanny Zhang 25-Oct-21 19:06 SINGAPORE (ICIS)–China has been escalating measures to tackle the problem of widespread power shortages and the bottleneck is expected to gradually ease in the last two months of the year. However, this is unlikely to make petrochemicals cheaper as costs may still stay high.
BD import discussions rise on bullish domestic
By Ai Teng Lim 22-Oct-21 12:02 SINGAPORE (ICIS)–Discussions for November delivery of butadiene (BD) import cargoes into China have risen with persistently bullish trades in the domestic market.
Europe ADA October
contracts climb as gas pressure
By Fergus Jensen 21-Oct-21 22:13 LONDON (ICIS)–Europe adipic acid (ADA) freely negotiated contracts for October were this week assessed as increasing by up to €100/tonne from September.
turnaround managers eye new strategies after
schedules disrupted from
By Adam Yanelli 21-Oct-21 14:47 HOUSTON (ICIS)–Many turnarounds at plants and refineries scheduled for 2020 were deferred because of the pandemic, which has put increased pressure on turnaround managers, panellists at the Reuters USA Downstream conference said on Thursday.
Chemicals industry must banish inertia,
reinvent itself for a low carbon
By Will Beacham 20-Oct-21 21:18 BARCELONA (ICIS)–The chemicals industry needs to overcome a ‘business as usual’ strategy and grasp new production and recycling technologies to meet the challenge of a low carbon future.
hit by multiple surcharges and production
By Caroline Murray 20-Oct-21 19:56 LONDON (ICIS)–Manufacturing costs are so high in Europe that polyethylene terephthalate (PET) and purified terephthalic acid (PTA) sellers are proposing surcharges, while production problems are exacerbating the existing product shortage.
ACN feedstocks update: costs vs supply-demand
By ICIS Editorial 19-Oct-21 20:53 LONDON (ICIS)–Europe’s ammonia and propylene markets are being closely followed by acrylonitrile (ACN) players. Both are balanced to healthy supply wise and demand is still good – but energy costs are spiraling.
Oct East Med PE,
PP prices rise following regional trend, local
By Nadim Salamoun 19-Oct-21 18:20 DUBAI (ICIS)–East Mediterranean polypropylene (PP) and polyethylene (PE) October prices have increased steadily in the past two weeks, tracking rising prices in the region and in line with the previous month’s direction.
2-EH could be hurt by weaker plasticizers
demand in Q4
By Jasmine Khoo 18-Oct-21 16:32 SINGAPORE (ICIS)–Tight supplies and strong demand have sent 2-Ethyhexanol (2-EH) prices in Asia to an all-time high as of the end of July, but market sentiment is expected to weaken this quarter.
NE Asia C2 up; logistic woes, margin
squeeze may prompt output
By Yeow Pei Lin 15-Oct-21 12:17 SINGAPORE (ICIS)–Northeast Asia’s spot ethylene (C2) import prices rose to around a 30-week high on strong Chinese buying, logistic bottlenecks and high feedstock costs.
Crude prices reaching multi-year highs in
response to natural gas shortage –
By Morgan Condon 15-Oct-21 00:18 LONDON (ICIS)–Oil prices are cresting multi-year highs on robust demand as supply has tightened in response to the shortage of natural gas, the International Energy Agency (IEA) announced on Thursday.
Import P series glycol ethers uptick on
firmer feedstock prices; supply
By Bonnie Yi 14-Oct-21 15:46 SINGAPORE (ICIS)–Some deals and discussions in the import markets for propylene glycol methyl ether (PM) and propylene glycol methyl ether acetate (PMA) were higher in southeast (SE) Asia following overall tightened supply and firmer feedstock prices in China.
INSIGHT: Petchem prices pressured by slowing
By Nigel Davis 13-Oct-21 22:27 LONDON (CIS)–The petrochemicals price surge has largely played out. The global ICIS Petrochemical Price Index decreased slightly in September: the index charts mostly contract price movements so is possibly not yet reflecting higher feedstock and energy costs. It has charted the post pandemic economic recovery but is showing that the earlier strong demand pull is giving way to something different.
slightly lowers ’21 global GDP forecast as
By Adam Yanelli 12-Oct-21 07:01 HOUSTON (ICIS)–The International Monetary Fund (IMF) slightly lowered its 2021 global GDP forecast and left its 2022 forecast unchanged as the coronavirus pandemic continues to disrupt supply chains, increasing the risks to economies across the world.
VIDEO – Europe PET, PTA Q4 supply to stay snug,
ADDs for MEG a hot
By Melissa Hurley 05-Oct-21 20:00 LONDON (ICIS)–European monoethylene glycol (MEG) editor Melissa Hurley discusses tight downstream polyethylene terephthalate (PET) supply with senior editor Caroline Murray, ahead of the virtual European Petrochemical Association (EPCA) annual conference.
INSIGHT: Asian C3
outlook hinges on delicate supply-demand
balance – part 1
By Julia Tan 08-Oct-21 09:00 SINGAPORE (ICIS)–The outlook for Asian propylene is cloudy, hinging on a delicate supply and demand balance, with market sources expecting that the post-holiday period will bring much-needed clarity to the Asian spot markets.
EPCA ’21: Raw
material challenges add to European MMA
By Mathew Jolin-Beech 06-Oct-21 22:45 LONDON (ICIS)–The European methyl methacrylate (MMA) sector is facing growing challenges from upstream raw materials on top of difficulties downstream. The post-summer pick-up in demand has been sluggish which has allowed market pressure to continue to ease and prices to continue to decrease.
East markets mixed amid tight supply
By Nurluqman Suratman 07-Oct-21 16:25 SINGAPORE (ICI)–In this episode of the podcast, Senior Reporter Felicia Loo gives a brief overview of current market conditions in the Middle East.
EPCA ‘21: Gains
in European MX demand to be furnished by
By Zubair Adam 07-Oct-21 23:00 LONDON (ICIS)–European supply of mixed xylenes (MX) was in general adequate to meet market requirements. Product availability will remain good, even if requirements rise. The European Petrochemical Association (EPCA) annual conference is the key industry networking event. For the second year, COVID-19-related travel restrictions have led to a fully virtual event.
EPCA ‘21: No
let-up in NWE paraffin wax market as tightness
to spill over into 2022
By Cameron Birch 07-Oct-21 22:00 LONDON (ICIS)–Amid continued logistical headaches, sentiment in the Europe paraffin wax market remains undimmed, despite questions over rising stockpiles from major buyers in the sector Buyers now face the dilemma of whether to make additional purchases at current elevated price levels or await potentially lower prices.
Asia ADA markets face supply uncertainty amid
China’s dual control
By Jasmine Khoo 07-Oct-21 20:44 SINGAPORE (ICIS)–Asia’s adipic acid (ADA) markets face supply uncertainty amid operating rate cuts in China due to the dual control policy. Volatility in the feedstock benzene markets has also put pressure on ADA production. Firm pricing in the related methylene diphenyl diisocyanate (MDI) markets has also dented ADA buyers’ confidence. In the seasonal downstream lull, buyers have also remained on the sidelines due to a lack of buying urgency.
demand, supply chains face disruption from new
By Will Beacham 05-Oct-21 22:07 BARCELONA (ICIS)–China’s Common Prosperity strategy will slow its economy and reduce demand for chemicals as it pivots away from an unsustainable property bubble and lowers carbon intensity.
ANALYSIS AND RESOURCES