SINGAPORE (ICIS)--Here are the top stories from ICIS News Asia and the Middle East for the week ended 4 June 2021.
Asia manufacturing continues recovery in May
despite COVID-19 restrictions
Asia's manufacturing sector continued to expand in May despite fresh restrictions imposed to stem a surge in COVID-19 cases in some economies.
Indian PE, PP list prices largely slump amid
Indian domestic polyolefin prices have netted reductions for June in the backdrop of sluggish downstream demand in the backdrop of the pandemic surge.
China moves to curb yuan's rapid appreciation
amid rising inflation
China’s central bank will raise the amount of cash that financial institutions must hold as reserves for their foreign exchange deposits, in a move to curb the rapid appreciation in the yuan (CNY), which makes exports including those of some petrochemicals less attractive.
Malaysia lockdown to hit palm oil output;
oleochemicals demand weak
Palm oil output in Malaysia will be limited by a manpower crunch as the country goes into a nationwide lockdown for two weeks from 1 June, but demand is expected to slow down from downstream oleochemicals markets.
Malaysia fresh lockdown hit on petrochemical
ops likely limited
Malaysia will go on a nationwide lockdown for two weeks from 1 June, but petrochemical production will continue and is likely be spared from any major disruption given its classification as an essential sector.