Asia top stories – weekly summary

ICIS Editorial


SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 June 2024.

Vietnam’s increase in recycled PE imports boost market mood
By Arianne Perez 07-Jun-24 14:37 Producers of recycled polyethylene (rPE) in northeast and southeast Asia have seen a recent uptrend in spot orders from Vietnam amid new requirements from brand owners.

Asia MEG demand slows amid limited Mideast cargoes; China supply to grow
By Judith Wang 06-Jun-24 13:57 SINGAPORE (ICIS)–A tug of war between snug import availability and slowing demand is likely to continue in Asia’s monoethylene glycol (MEG) market, while an expected increase in China’s domestic supply could shake things up in the near term.

INSIGHT: New measures for China property market boon for chemicals
By Lina Xu 05-Jun-24 10:00 SINGAPORE (ICIS)–The People’s Bank of China (PBoC) released a series of new real estate-related policies on 17 May, including a nationwide removal of minimum interest rate on commercial personal housing loans; reduction in minimum down payment ratio for both first-time and second-time home buyers; and lower interest rate on housing provident fund.

NE Asia C2 market sees pressure from long supply, downstream shutdowns
By Josh Quah 03-Jun-24 10:49 SINGAPORE (ICIS)–Asia ethylene markets are likely to still face pressure from an overhang of regional supply from May despite some production corrections in June.

Asia DEG shrugs off China’s suspended tariff concessions on Taiwan material
By Judith Wang 03-Jun-24 15:20 SINGAPORE (ICIS)–Asia’s diethylene glycol (DEG) market is shrugging off China’s decision to suspend tariff concession on its imports of Taiwanese material.

China PX buyers prefer domestic over imports on differing yuan exchange rates
By Samuel Wong 06-Jun-24 12:36 SINGAPORE (ICIS)–The difference in exchange rates for the Chinese yuan (CNY) set by the People’s Bank of China (PBOC) and the prevailing spot market rate saw downstream purified terephthalic acid (PTA) users in China preferring domestic paraxylene (PX) cargoes over imported cargoes.


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