Asia top stories – weekly summary
ICIS Editorial
18-Mar-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 15 March 2024.
INSIGHT: Indorama exit from PET feedstock
markets to spur China PTA exports
By Nurluqman Suratman 15-Mar-24 11:42 SINGAPORE
(ICIS)–Demand for China’s purified
terephthalic acid (PTA) will get a boost as
Indorama Ventures Ltd (IVL), a global producer
of downstream polyethylene terephthalate (PET),
shifts away from expensive integrated
operations.
INSIGHT: Policies announced in China Two
Sessions will impact domestic petchems market
in 2024
By Jimmy Zhang 14-Mar-24 23:07 SINGAPORE
(ICIS)–China’s Two Sessions earlier this month
– the yearly meetings where its legislature
sets laws and its advisory body offers policy
recommendations – attracted attention from the
market for the growth targets set and
announcements on expected future economic
development. According to Premier Li Qiang,
China’s GDP growth target is “around 5.0%”.
US outage to boost March Asia-Atlantic spot
acetic acid, VAM trades
By Hwee Hwee Tan 14-Mar-24 12:26 SINGAPORE
(ICIS)–Asia-Atlantic spot trades for acetic
acid and vinyl acetate monomer (VAM) are
expected to increase after supply gaps in the
US and Europe emerged following an unexpected
plant outage in the US.
Asia caustic soda market could be underpinned
by snug supply, limited vessel space
By Jonathan Chou 13-Mar-24 15:40 SINGAPORE
(ICIS)–Asia’s liquid caustic soda spot supply
may remain snug in the near term, while demand
could continue its gradual growth into the
second quarter (Q2) of 2024.
PODCAST: China Group III base oils market sees
supply, demand changes
By Whitney Shi 12-Mar-24 15:53 SINGAPORE
(ICIS)–In this podcast, ICIS Senior Industry
Analyst Whitney Shi and ICIS Assistant Industry
Analyst Jady Ma talk about supply and demand
changes in China’s Group III base oils market.
Saudi Aramco ’23 profit falls on softer crude;
’24 focus on downstream growth
By Nurluqman Suratman 11-Mar-24 12:37 SINGAPORE
(ICIS)–Energy giant Saudi Aramco’s net profit
in 2023 fell by 24.7% to Saudi riyal (SR)
454.8bn ($121.3bn), weighed by weaker crude oil
prices as well as lower refining and chemical
margins.
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