Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 25 April.

China PC import prices near five-year low on poor demand
By Li Peng Seng 21-Apr-25 12:41 SINGAPORE (ICIS)–Import prices of polycarbonates (PC) in China sank to their lowest in nearly five years recently and the bleakness will linger as demand will stay slow due to trade wars and ample supplies.

US LPG supply diverted from China triggers sharp propane price fall in Japan, South Korea
By Jiayi Chang 21-Apr-25 19:50 SINGAPORE (ICIS)–The US-China tariff dispute has severely disrupted established global energy trade flows. The abrupt suspension of US liquid petroleum gas (LPG) exports to China, a key trade route, has led to a sharp collapse in propane prices across Japan and South Korea.

INSIGHT: China PP capacity expansion to peak in 2025; trade war to hit supply
By Lucy Shuai 22-Apr-25 11:28 SINGAPORE (ICIS)–Global and Chinese polypropylene (PP) capacity additions will peak in 2025 and then slow down, with the US-China trade war expected to affect overall supply.

S Korea’s Apr export decline point to rising challenges from US tariffs
By Nurluqman Suratman 22-Apr-25 12:05 SINGAPORE (ICIS)–South Korea’s exports fell by 5.2% year on year in the first 20 days of April, an indication of the significant impact of US tariffs on Asia’s fourth-largest economy.

US tariffs enlarge woes in Asia chemical freight market
By Hwee Hwee Tan 23-Apr-25 15:49 SINGAPORE (ICIS)–Vast uncertainty stemming from the US’ tariff moves has squashed hopes of any near-term recovery for Asia chemical tanker market.

Cost push, tight supply buoy up few Asia petrochemicals amid general slump
By Jonathan Yee 23-Apr-25 16:24 SINGAPORE (ICIS)–While the US-led trade war has roiled Asia’s petrochemicals market, sending prices of some on free fall, a selected few products have bucked the trend due to rising feedstock cost and tightening supply, but the support may be temporary amid global economic headwinds.

PODCAST: Asia propylene market seeks balance in tariff chaos
By Seymour Chenxia 23-Apr-25 16:56 SINGAPORE (ICIS)–Asia’s propylene (C3) market is likely to see tighter short-term supply as China’s propane dehydrogenation (PDH) producers now face surging propane import costs because of US-China tariff hikes. Downstream demand and end-user consumption could be negatively impacted by tariff barriers.

INSIGHT: Sluggish demand weighs on Asia C3 despite propane hikes
By Julia Tan 23-Apr-25 22:13 SINGAPORE (ICIS)–Tighter supply from end-May onwards is likely to support near-term Asia propylene (C3) pricing on expectations that tariffs levied on US-origin propane will make it untenable for Chinese PDH units to sustain existing operating rates.

Saudi Arabia, India plan to jointly build two oil refineries
By Priya Jestin 24-Apr-25 17:05 MUMBAI (ICIS)–Two oil refineries will be built in India as part of Saudi Arabia’s $100-billion investment pledged to the south Asian nation which would cover cooperation in multiple areas, including energy and petrochemicals.

Asia ACN sentiment turns bearish on weak China market
By Corey Chew 25-Apr-25 12:24 SINGAPORE (ICIS)–China’s domestic acrylonitrile (ACN) market has weakened as Shandong Yulong’s new capacity resulted in an oversupply amid weak demand.

INSIGHT: Trade tensions to hasten Canadian low carbon ammonia exports to Asia, hitting prospects of US projects
By Bee Lin Chow 25-Apr-25 15:38 SINGAPORE (ICIS)–Canadian ammonia exports are exempted from the prohibitively high levy imposed on Canadian exports to the US, thanks to the US-Mexico-Canada trade agreement.