Asia top stories: weekly summary

01 September 2014 02:00 Source:ICIS News

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle East for the week ended 29 August 2014.

Focus - Asia ACN hits highest since May '12; may soon halt uptrend
Spot acrylonitrile (ACN) prices in Asia may stop rising after hitting their highest levels in more than two years, as buyers are posing stiff resistance to higher offers despite tight global supply, market sources said on Friday.

Focus - Asia MEK prices seen strong in Sept on demand, tight supply
Spot Asian methyl ethyl ketone (MEK) prices are likely to remain firm in September with improved support on both demand and supply fronts, despite the currently weak demand situation in Asia, market sources said on Friday.

Focus - China emerges as major VAM exporter; Asia prices under pressure
China has been shipping out heavy volumes of vinyl acetate monomer (VAM) this year following a spike in prices of the material to record highs in April - when global supply tightened - with regional buyers lured by its comparatively low prices, industry sources said on Friday.

Focus - Lower feedstock, rising supply may stall China BG price rebound
Falling raw material prices and rising supply may stall the first significant rebound in spot butyl glycol (BG) prices into China since February, market sources said on Thursday.

Focus - NE Asia crackers margins high on strong ethylene, soft naphtha
Northeast Asian cracker operators are enjoying strong margins of around or above $400/tonne this month on the back of weaker feedstock naphtha costs and strong ethylene spot prices, which are likely to stay high in months ahead, market participants said on Thursday.

Focus - Asia PBR may defy falling NR on possible BD rebound
Spot prices of polybutadiene rubber (PBR) in Asia may remain firm despite tumbling values of rival product natural rubber (NR), on expectations that costs of feedstock butadiene (BD) may soon rebound, market sources said on Thursday.

Focus - China domestic MMA may extend gains amid probe on imports
China’s domestic methyl methacrylate (MMA) prices have risen by 7-8% so far this month, and may continue heading north as availability of supply is being hampered by an ongoing antidumping probe on imports, market sources said on Wednesday.

Focus - Asia shipping unlikely to benefit from Iran sanction relief
Asia Pacific shipping is unlikely to see any benefit from the extension of relief to Iran from sanctions following July’s deal between Tehran and six world powers to extend nuclear talks for a four-month period, industry sources said on Wednesday.

Focus - SE Asia PE buyers wait for prices to drop in spot market
Southeast Asian buyers of polyethylene (PE) resins in the spot markets have opted to stand on the side lines waiting for prices to drop for September-loading cargoes, industry sources said on Tuesday.

Focus - Asia naphtha seen weaker on supply deluge, cracker turnarounds
Asia’s naphtha prices may be undermined by a deluge of supply amid receding demand because of scheduled turnarounds at regional crackers, traders said on Tuesday.

Asia MEK stable amid wide buy-sell gap, limited supply
Spot methyl ethyl ketone (MEK) prices in Asia were assessed steady, with only a few deals done last week as the gap between buying and selling ideas for end-August and early September shipments remaining wide, market sources said on Monday.

Saudi Arabia's JUPC eyes end-August restart for MEG No 1 plant
Saudi Arabia’s Jubail United Petrochemical Co (JUPC) plans to restart its 700,000 tonne/year No 1 monoethylene glycol (MEG) unit by end-August after a turnaround that began in early July, a source close to the company said on Tuesday.

By Nurluqman Suratman