Asia top stories – weekly summary
ICIS Editorial
27-Mar-2023
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 24 March 2023.
Asia petrochemicals demand tepid on
macroeconomy, oversupply
concerns
By Nurluqman Suratman 24-Mar-23 14:16 SINGAPORE
(ICIS)–Asia’s petrochemical markets continue
to face tepid demand as economic recovery in
regional bellwether China remains slower than
initially expected, with new production
capacities adding to oversupply concerns.
INSIGHT: New PE/PP capacities risk derailing
nascent Asia polyolefin
recovery
By Izham Ahmad 22-Mar-23 17:28 SINGAPORE
(ICIS)–A wave of new polyethylene (PE) and
polypropylene (PP) supply in Asia is
threatening to upend the tentative demand
recovery the region has been experiencing since
the end of the Lunar New Year holidays as new
suppliers fight to establish market share in an
increasingly crowded market.
NE Asia C2 producers mull higher output for May
on improved margin
By Yeow Pei Lin 24-Mar-23 12:27 SINGAPORE
(ICIS)–Northeast Asia’s spot ethylene (C2)
supply for May could be boosted by improved
production margins following recent declines in
feedstock naphtha costs.
Thailand’s Envicco gains approval to sell R-PET
for domestic use
By Arianne Perez 23-Mar-23 12:12 SINGAPORE
(ICIS)–The joint venture between PTT and ALPLA
under the entity Envicco received approval from
Thailand’s FDA (Food and Drug Administration)
to sell recycled polyethylene terephthalate
(R-PET) for local use.
Asia oleochemicals demand slumps on bearish
sentiment, caution
By Helen Yan 22-Mar-23 12:50 SINGAPORE
(ICIS)–Asian oleochemicals players are staying
on the sidelines amid the uncertainties over
the US bank crisis, a slowing global economy
and fluctuations in the upstream crude palm oil
(CPO) and palm kernel oil (PKO) prices.
PODCAST: Asian PP markets grapple with
increased supply, lower-than-expected demand in
2023
By Damini Dabholkar 20-Mar-23 19:06 SINGAPORE
(ICIS)–Asian polypropylene (PP) markets are
being challenged by increasing capacity in
2023, especially in the China market, while
demand continues to recover more slowly than
expected.
Asia naphtha swings to multi-month lows
on volatile crude
By Melanie Wee 21-Mar-23 13:42 SINGAPORE
(ICIS)–Asia’s naphtha markets can expect
heightened volatility, largely tracking crude
oil futures movement, as demand prospects are
being weighed down by market jitters over the
health of the global banking system.
Asia petrochemical shares, oil prices weaken
after UBS rescue of Credit
Suisse
By Nurluqman Suratman 20-Mar-23 12:43 SINGAPORE
(ICIS)–Shares of petrochemical companies in
Asia were mostly weaker and crude futures fell
on Monday on fears of a banking crisis
contagion, as troubled Credit Suisse was
rescued by its Swiss rival UBS in a
government-backed deal.
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