Asia top stories – weekly summary
ICIS Editorial
06-Feb-2023
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 3 February.
Singapore manufacturing remains under pressure
from inflation, external
headwinds
By Nurluqman Suratman 03-Feb-23 11:48 SINGAPORE
(ICIS)–Singapore’s manufacturing sector will
continue to face pressure from weak external
demand and high inflation, with data in the
first month of 2023 indicating a contraction.
Asia melamine may see fundamentals largely
unchanged in H1 Feb
By Joson Ng 02-Feb-23 09:46 SINGAPORE
(ICIS)–The domestic China melamine market
could see some support in early February from
low production rates and high costs.
South Korea Jan petrochemical exports fall 25%;
overall shipments down 17%
By Nurluqman Suratman 01-Feb-23 12:51 SINGAPORE
(ICIS)–South Korea’s petrochemical exports in
January fell by 25% year on year to $3.8bn,
with overall shipments also contracting due to
a combination of high-base effect and poor
global demand.
India to allot $4.3bn in fiscal 2023-24 budget
to boost clean energy sector
By Priya Jestin 01-Feb-23 19:04 MUMBAI
(ICIS)–India plans to allocate rupees (Rs)
350bn ($4.3bn) in the fiscal year 2023-24
national budget for energy transition in the
pursuit of the country’s net zero carbon
emissions objective by 2070.
China 2023 GDP growth forecast revised up to
5.2% as activity recovers –
IMF
By Nurluqman Suratman 31-Jan-23 11:58 SINGAPORE
(ICIS)–China’s GDP growth is projected to
rebound to 5.2% in 2023 from 3.0% last year as
a sudden lifting of most its pandemic-related
restrictions paved the way for a rapid rebound
in economic activity, according to the World
Economic Outlook (WEO) Update of the
International Monetary Fund (IMF) released on
Tuesday.
China petrochemical futures, spot markets mixed
post-Lunar New Year
By Yvonne Shi 30-Jan-23 14:18 SINGAPORE
(ICIS)–Post-holiday price trends in China’s
petrochemical futures and spot markets diverge
as sentiment remained cautious despite recent
optimism over recovering demand in the world’s
second-biggest economy with the lifting of its
zero-COVID policy.
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