Asia top stories – weekly summary

ICIS Editorial

13-Jan-2025

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 10 January.

China to accelerate hydrogen use in transportation, industrial sectors after 2035
By Patricia Tao 06-Jan-25 14:32 SINGAPORE (ICIS)–China is aggressively promoting hydrogen in transportation and industrial sectors as part of its transition from fossil fuels.

Vietnam Q4 GDP expands 7.55%, full-year ’24 growth at 7.09%
By Jonathan Yee 06-Jan-25 16:39 SINGAPORE (ICIS)–Vietnam’s economy expanded by 7.55% year on year in the fourth quarter on recovering global demand even amid heavy losses from Typhoon Yagi, official preliminary data showed.

Malaysia’s ADDs on China’s PET exports weigh on spot discussions
By Judith Wang 08-Jan-25 15:09 SINGAPORE (ICIS)–Malaysia’s announcement of provisional antidumping duties (ADDs) on polyethylene terephthalate (PET) imports from China and Indonesia has cast a shadow on spot discussions.

PODCAST: Asia ethylene to be impacted by US turnarounds, supply from northeast Asia
By Damini Dabholkar 08-Jan-25 16:17 SINGAPORE (ICIS)–Asia ethylene editor Josh Quah and analyst Aliena Huang talk about the Asia outlook for ethylene arbitrage cargoes for 2025 with markets editor Damini Dabholkar.

INSIGHT: China govt summit emphasises stabilising growth, sets tone for 2025 petchems demand
By Joey Zhou 08-Jan-25 17:25 SINGAPORE (ICIS)–The Central Economic Work Conference (CEWC) held in Beijing from December 11th to 12th provided a general direction for China’s economic development in 2025.

China’s Shandong Port bars entry of US-sanctioned vessels
By Fanny Zhang 08-Jan-25 21:04 SINGAPORE (ICIS)–China’s Shandong Port Group has stopped US-sanctioned vessels from calling into ports under its control, according to a company notice.

India acetic acid supply tightens; prices on rebound
By Hwee Hwee Tan 09-Jan-25 14:06 SINGAPORE (ICIS)–India’s spot market for acetic acid imports staged a surprise recovery from late December, buoyed by fears of curtailed supplies from China into January.

China’s PPI deflation persists; more economic stimulus expected in 2025
By Fanny Zhang 09-Jan-25 16:10 SINGAPORE (ICIS)–China is expected to announce more stimulus policies in 2025 to boost lackluster growth and reverse a prolonged deflation in wholesale prices, according to analysts.

INSIGHT: China’s polyolefin industry seeks higher-end products amid structural overcapacity
By Zhibo Xiao 09-Jan-25 19:11 SINGAPORE (ICIS)–China’s rapid expansion in PP and PE production has led to structural overcapacity in PP and a shrinking supply-demand gap for PE. Meanwhile, the shifting consumption landscape has driven a surge in demand for high-end polyolefin materials, creating a substantial market gap.

Weak demand, stiff competition prompt Asia rPET producers to cut prices
By Arianne Perez 10-Jan-25 10:51 SINGAPORE (ICIS)–Majority of recycled polyethylene terephthalate (rPET) flakes and pellets producers cut spot cargo prices as January opens in attempts to stoke buying interest from downstream buyers.

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