Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 11 November 2022.

Asia ethylene little changed as players await direction from ’23 term talks
Asia’s ethylene spot import prices for December-arrival cargoes were broadly stable this week, as the weak downstream margins and strong US arrivals continued to be counterbalanced by limited regional supply.

Bearish sentiment dominates Asia November petrochemical markets
Bearish sentiment in Asian petrochemical markets has risen due to weak demand from late October, and we expect prices of most products in the region to remain on a downward trend in November.

Asia naphtha slumps on poor downstream margins, maintenance shutdowns
Asia naphtha markets could remain undermined by bearish conditions, generating downward pressure on spot prices.

Asia BDO retreats on poor demand, weak domestic China market
The Asian 1,4-butanediol (BDO) market trended lower as demand in the region dissipated amid a poor economic outlook. Some participants believe that demand in the region, in particular China, could remain weak until after the Lunar New Year in late January.

China, India ethanolamines markets under downward pressure as demand wanes
The ethanolamines markets in China and India remain under downward pressure amid prevailing weak demand and ample supply.

Thailand’s PTTGC swings to Q3 net loss amid weaker petchem margins
PTT Global Chemical (PTTGC) swung to a net loss of Thai baht (Bt) 13.4bn in the third quarter amid weaker petrochemical spreads, the Thai producer said on Wednesday.

Asia petrochemical markets mixed amid high inflation
Asia’s petrochemical markets were mixed amid economic headwinds and dampening consumption in China amid a slowing economy, with no let-up on its harsh zero COVID-19 policy, dampening consumption.

SE Asia MTBE supply shortage keeps export window for China open
Supply of methyl tertiary butyl ether (MTBE) tightened in Asia due to low production and plant issues, keeping China’s export window to the region wide open.

UAE’s ADNOC to build steam cracker at TA’ZIZ chemical complex in Ruwais
Abu Dhabi National Oil Co (ADNOC) plans to build a steam cracker in Ruwais, in line with its goal of more than doubling the chemical production capacity at the TA’ZIZ Industrial Chemicals Zone.

Alujain to build $2bn propylene complex in Saudi Arabia
Saudi Arabia’s industrial group Alujain Corp plans to build a riyal (SR) 7.5bn ($2bn) propylene complex in Yanbu, slated for start-up in the first half of 2026.