Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 2 May.

India RIL oil-to-chemicals fiscal Q4 earnings fall on poorer margins
By Nurluqman Suratman 28-Apr-25 11:57 SINGAPORE (ICIS)–India’s Reliance Industries Limited (RIL) late on 25 April reported a 10% year-on-year drop in its oil-to-chemicals (O2C) earnings before interest, tax, depreciation and amortization (EBITDA) on poorer transportation fuel cracks and subdued downstream chemical deltas.

Asia naphtha market strengthens but uncertainties linger
By Li Peng Seng 28-Apr-25 15:01 SINGAPORE (ICIS)–Asia’s naphtha intermonth spread hit a three-week high recently as market sentiment recovered following stronger demand from China, but the market ahead could be choppy on the back of volatile crude oil and trade war uncertainties.

PODCAST: MMA market turmoil in China and Asia amid rising supply, weak demand
By Yi Liang 28-Apr-25 15:19 SINGAPORE (ICIS)–In this podcast, ICIS analysts Jasmine Khoo and Mason Liang will talk about the current situation and outlook for the methyl methacrylate (MMA) market.

INSIGHT: China new energy vehicle industry to continue driving polymer industry development
By Chris Qi 28-Apr-25 18:31 SINGAPORE (ICIS)–China’s automotive industry has maintained rapid growth over the last few years, with the expansion of the country’s new energy vehicle (NEV) sector particularly notable, now accounting for 70% of global production.

China’s Sinopec enters $4bn JV with Saudi Aramco unit for Fujian project
By Jonathan Yee 29-Apr-25 12:19 SINGAPORE (ICIS)–China’s state-owned Sinopec has entered a joint venture (JV) with an Asian unit of Saudi Aramco to manage the second phase of a refining and petrochemical complex at Gulei in Fujian province, it said on 28 April.

Asia glycerine may see restocking after Labour Day holiday
By Helen Yan 29-Apr-25 14:34 SINGAPORE (ICIS)–Asia’s glycerine market may see a pick-up in restocking activities after the May Day or Labour Day holiday as Chinese buyers hold back their purchases, given the sluggish downstream epichlorohydrin (ECH) market and uncertainties over the US-China trade war.

China Apr manufacturing activity shrinks on US tariffs pressure
By Jonathan Yee 30-Apr-25 12:09 SINGAPORE (ICIS)–China’s manufacturing activity shrank in April as export orders weakened amid the intensifying trade war with the US, official data showed on Wednesday.

INSIGHT: Rising costs to curtail China PDH runs, mixed impact on C3 derivatives
By Seymour Chenxia 30-Apr-25 13:00 SINGAPORE (ICIS)–Chinese PDH producers are likely to lower operating rates as US-China trade tensions drive up propane import costs, which is expected to tighten propylene supply. However, the impact on downstream markets will be mixed due to varying feedstock sources.

Asia VAM market to slow as China solar drive eases
By Hwee Hwee Tan 02-May-25 11:35 SINGAPORE (ICIS)–Asia’s vinyl acetate monomer (VAM) supply is lengthening as spot demand tied to a major downstream sector is softening into May.