Asia top stories – weekly summary
ICIS Editorial
17-Jun-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 14 June 2024.
INSIGHT: Asia petrochemical markets grapple
with surging shipping costs
By Nurluqman Suratman 14-Jun-24 13:54 SINGAPORE
(ICIS)–Spot prices of most petrochemicals in
Asia have spiked on the back of surging freight
and container costs, as logistics challenges
which continue to dampen global commodities
trades coincide with a seasonal uptick in
demand.
INSIGHT: China slams EU over EV tariffs; trade
war brewing
By Nurluqman Suratman 13-Jun-24 15:01 SINGAPORE
(ICIS)–China has slammed EU’s proposal to
impose provisional tariffs on imports of
Chinese electric vehicles (EVs), denouncing it
as a “blatant act of protectionism”, raising
concerns that a trade war between Asia’s
biggest economy and a new western front is
brewing.
India Q3 fatty acids demand grows amid freight
spikes, logistics woes
By Helen Yan 12-Jun-24 13:54 SINGAPORE
(ICIS)–India’s import demand for fatty acids
has picked up, with buyers seeking to lock in
third-quarter shipments amid soaring freight
costs and logistics issues that have disrupted
global trade flows.
Asia naphtha could still be lifted by supply
challenges
By Li Peng Seng 10-Jun-24 09:55 SINGAPORE
(ICIS)–Asia’s naphtha intermonth spread has
lost 42% of its value compared to a month ago
as weak petrochemical margins weighed, but
lingering concerns over arbitrage supplies
coming to Asia could help limit the downside.
INSIGHT: Asian petrochemical industry at
crossroads amid supply glut – APIC
By Nurluqman Suratman 10-Jun-24 16:54 SINGAPORE
(ICIS)–The Asian petrochemical industry is
grappling with a multifaceted transition,
marked by a persistent oversupply of
petrochemicals, the urgent need to decarbonize,
and the growing momentum of the circular
economy.
China price pressures to remain weak on
persistent weak demand
By Nurluqman Suratman 13-Jun-24 11:08 SINGAPORE
(ICIS)–China’s consumer inflation rate is
expected to remain weak in the near future on
persistently weak domestic demand, raising
worries about the risk of deflation as the
nation’s economic recovery struggles to gain
traction.
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