Asia top stories – weekly summary
ICIS Editorial
27-Nov-2023
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 24 November 2023.
Producers hold back VAM offers for Asia amid US
outage
By Hwee Hwee Tan 24-Nov-23 12:31 SINGAPORE
(ICIS)–Producers are looking to divert vinyl
acetate monomer supplies from Asia if a
shortfall persists in the Atlantic basin from a
major supply outage in the US.
China’s Wanhua to enhance core business,
explore future industries –
president
By Fanny Zhang 23-Nov-23 17:08 SINGAPORE
(ICIS)–Wanhua Chemical will continue to invest
and innovate for sustainable growth, with each
of its three major businesses having distinct
development focuses, according to the company’s
President Kou Guangwu.
Oil prices fall more than $1/bbl after OPEC+
delays meeting
By Nurluqman Suratman 23-Nov-23 10:37 SINGAPORE
(ICIS)–Oil prices fell by more than $1/bbl on
Thursday, extending losses in the previous
session after OPEC and its allies delayed a
meeting to discuss whether to expand oil output
cuts.
Singapore 2023 GDP to grow around 1%;
exports to contract deeper
By Nurluqman Suratman 22-Nov-23 13:44 SINGAPORE
(ICIS)–Singapore’s trade-reliant economy is
projected to grow at around 1.0% for the whole
of 2023, with exports expected to post a
steeper contraction amid the global economic
slowdown.
Poor demand constrains Asia petrochemical
production; further output cuts
likely
By Nurluqman Suratman 21-Nov-23 12:15 SINGAPORE
(ICIS)–Operating rates at petrochemical plants
in Asia will remain constrained, with further
production cuts likely amid weak margins due to
high costs, oversupply, and poor downstream
demand.
INSIGHT: Asia petchem prices expected to trend
down through traditional November
lull
By Jimmy Zhang 20-Nov-23 22:00 SINGAPORE
(ICIS)–Asia petrochemical prices are expected
to move downward in November mainly due to the
traditional low demand season.
China’s moulding grade PC import demand
to stay thin
By Li Peng Seng 20-Nov-23 10:21 SINGAPORE
(ICIS)–China’s spot import prices for moulding
grade polycarbonate (PC) have been on the
downward spiral and the market is expected to
stay bearish in the weeks ahead as buyers will
purchase only on a need-to basis.
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