Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 21 February.

China PC import prices fall on ample supply; outlook bleak
By Li Peng Seng 17-Feb-25 14:02 SINGAPORE (ICIS)–Import prices of moulding-grade and extrusion-grade polycarbonate (PC) in China have fallen to a three-week low recently amid ample supplies and weak demand as buyers would only purchase on a need-to basis.

Thailand Q4 GDP grows 2.5%, US trade policy uncertainty weighs on outlook
By Nurluqman Suratman 17-Feb-25 16:44 SINGAPORE (ICIS)–Thailand’s economy grew 2.5% year on year in 2024, boosted by a 3.2% expansion in the fourth quarter on the back of robust exports and private consumption. However, headwinds from global trade disputes threaten its growth outlook for 2025, official data showed on Monday.

Reduced SE Asia PP supply opens door wider for China exports
By Lucy Shuai 18-Feb-25 15:44 SINGAPORE (ICIS)–Polypropylene (PP) plant shutdowns in southeast Asia open up more export opportunities for China, which is currently beset with oversupply.

Asia ethyl acetate, butyl acetate find support from modest demand pick-up
By Melanie Wee 18-Feb-25 15:58 SINGAPORE (ICIS)–Asia-Pacific ethyl acetate (etac) markets are seeing improved demand, which is helping to absorb regional supply.

Asia’s naphtha seen firm short term on supply concerns
By Li Peng Seng 19-Feb-25 12:37 SINGAPORE (ICIS)–Asia’s naphtha sentiment has further strengthened as supplies arriving in March from the west, namely Europe, Africa, the Americas and the Mediterranean, are lower than expected due to reasons which include gasoline demand and ongoing geopolitical conflicts.

US potential 25% tariffs on auto imports could hurt Japan, S Korea
By Nurluqman Suratman 19-Feb-25 14:21 SINGAPORE (ICIS)–US President Donald Trump’s plan to impose tariffs of around 25% on vehicle imports places South Korea and Japan in the line of fire, as they are the top sources of automobiles outside of North America.

S Korea’s S-Oil earmarks W3.5 trillion for Shaheen project in 2025
By Pearl Bantillo 19-Feb-25 16:29 SINGAPORE (ICIS)–S-Oil plans to spend about South Korean won (W) 3.5 trillion ($2.4 billion) in its Shaheen crude-to-chemical project in Ulsan, which accounts for the bulk of the refiner’s capital expenditure (capex) set for the year.

Asia fatty alcohols capacity expansions in Q2 to curb spot interest for mid-cuts C12-14
By Helen Yan 20-Feb-25 10:25 SINGAPORE (ICIS)–Expectations of expanded fatty alcohols supply in southeast Asia are likely to dampen buyers’ sentiment and curtail spot interest in the second quarter.

Indonesia central bank keeps policy interest rate at 5.75%, for now
By Nurluqman Suratman 20-Feb-25 14:28 SINGAPORE (ICIS)–Indonesia’s central bank left its policy interest rate unchanged at 5.75% on 19 February, citing elevated global uncertainty, but sees room for monetary policy easing down the road.

INSIGHT: Production outages to support Feb Asia petchems price rebound
By Joey Zhou 20-Feb-25 19:11 SINGAPORE (ICIS)–Asia petrochemical prices are expected to rise in February from the previous month, mainly due to production outages in oversea markets (excluding China). However, the magnitude of price gains will be limited by new capacities and sluggish demand.

Mideast polyols hold steady; prices balanced by cost push, oversupply
By Isaac Tan 21-Feb-25 13:48 SINGAPORE (ICIS)–Polyols prices in the Middle East held steady in the week ended 20 February as oversupply conditions outweighed a cost push from rebounding feedstock propylene oxide (PO).