Asia top stories – weekly summary
ICIS Editorial
01-Aug-2022
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 29 July 2022.
East, south Asia ethanolamines demand to stay
weak amid ample supply
Demand for ethanolamines in east and south Asia
has ebbed and will likely be capped in the near
term by weak economic outlook and recession
fears.
S Korea’s S-Oil Q2 net income more than
doubles; Q3 PX spread to weaken
S-Oil’s second-quarter net income more than
doubled year on year on strong refining margins
and robust aromatics demand, but the South
Korean producer’s paraxylene (PX) spread is
expected to weaken in July-September 2022.
OUTLOOK: Asia’s PVC spot market weighed by
sluggish demand and improving supply
Lacklustre demand in Asia’s polyvinyl chloride
(PVC) spot market is expected to affect
sentiment, while regional spot supply is likely
to remain healthy in the near term.
OUTLOOK: Asian ACN production cuts to continue,
demand recovery uncertain
Asian acrylonitrile (ACN) production cuts are
to continue into H2 2022, and may intensify if
downstream sectors cut production further.
India’s RIL Q1 oil-to-chems earnings jump 63%;
cracker rates fall to 87%
Reliance Industries Ltd’s (RIL)
oil-to-chemicals net profit increased by around
63% year on year in its fiscal first quarter
ending June 2022 on the back of higher oil and
product prices.
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