Asia top stories: weekly summary

10 March 2014 00:00 Source:ICIS News

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 7 March 2014.

Focus: Asia naphtha gallops on crude, tightening deep-sea inflows
Asia's naphtha rose sharply on Monday morning, buoyed by strengthening crude futures

Focus: Chinese acetone buyers’ outlook weakens on inventory build
Some Chinese importers’ outlook for acetone prices into China weakened because of slower-than-expected recovery in post-Lunar New Year holiday demand, along with heavy losses in the feedstock sector

Focus: China manufacturing slowdown weighs on Asia petchems demand
China’s industries are slowing down as overseas demand has remained weak, dampening the overall consumption of petrochemicals in Asia

Focus: Asia PS to stay weak near term on soft demand, poor SM market
Spot polystyrene (PS) prices in Asia lost further ground this week, with continued weakness likely in the near term amid poor demand and a lacklustre performance in the upstream styrene monomer (SM) market

Focus: Chinese BG buyers’ outlook weakens on rising inventories
Chinese importers’ outlook for butyl glycol (BG) prices has weakened as inventories piled up and local prices declined in February

Focus: China’s PE import prices expected to rise in H2 March
China’s polyethylene (PE) import prices are expected to rise in the second half of March because of stronger demand from the mulch film sector and tighter import supply

Focus: China PP flat yarn may extend falls after hitting six-month low
China’s import prices for polypropylene (PP) flat yarn resins are hovering at a six-month low, and look set to fall further as domestic producers are saddled with high inventory of the polymer amid weak downstream demand

Focus: Asia ABS falls below $1,900/tonne; may stay soft on weak demand
Spot acrylonitrile-butadiene-styrene (ABS) prices in Asia fell below $1,900/tonne this week, with suppliers lowering prices to draw buyers forward amid a general lull in demand

Focus: Pakistan prepares new incentives to shale oil and gas investors
Pakistan is drafting a set of fresh incentives to assure prospective investors tapping its shale oil and gas reserves of generating higher profits and low investment risk

By Yaw Min Jie