Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 1 April 2022.

Asia C2 producers cautious about raising output despite crude falls
Asia’s spot ethylene (C2) prices were supported by limited supply, which counterbalanced lower crude futures and weak restocking demand in China.

Oil falls by more $5/bbl on US’ reserves release plan, weak China data
Oil futures slumped by more than $5/bbl on Thursday as the US is planning a massive release from its strategic reserves to calm the gasoline market, with overall sentiment further weighed down by weak China data.

PODCAST: Asian R-PET capacity expansions further squeeze feedstock supply
In this podcast, ICIS editors Jasmine Khoo and Arianne Perez discuss about recent market developments and the outlook for Asia Recycled Polyethylene Terephthalate (R-PET) markets.

Asia petrochemicals brace for weaker China demand amid lockdowns
Asia’s petrochemical markets are bracing for a prolonged demand weakness in China as the region’s biggest economy struggles with surging COVID-19 caseloads.

Asian OX supply to stay tight; weak downstream demand a headwind
Asia’s orthoxylene (OX) supply is expected to stay tight amid low inventories and overall lower run rates being maintained within the region, while spot trade remains limited on soft downstream demand in the phthalic anhydride (PA) and plasticizer markets.