Asia top stories: weekly summary

SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 30 September 2016.

Germany’s LANXESS to buy US’ Chemtura for about $2.5bn
Germany’s LANXESS will buy Chemtura Corp for about $2.5bn in an all cash transaction, the US-based specialty chemical producer said.

Asia BD uptrend may continue in October on supply crunch
Spot butadiene (BD) prices in Asia may continue to rise in October, defying initial expectations of weakness, because of an unexpected supply crunch amid strong demand, market sources said.

China domestic PO prices may extend gains on bullish market
China’s domestic propylene oxide (PO) prices may continue rising, even after hitting their highest levels so far this year, as buyers are stocking up on cargoes ahead of a long holiday in October, market sources said.

China PO driven up by panic buying ahead of environmental checks
China spot import prices of propylene oxide (PO) rose 23% week on week to record a 17-month high amid a surge in domestic prices, prompted by anxiety over upcoming environmental checks on production facilities, sources said.

Asia MMA at new 16-month high; short supply to support prices
Spot prices of methyl methacrylate (MMA) in Asia increased to a fresh high in 16 months and will likely stay supported amid supply constraints, industry sources said.

‘Green’ shipping trend a boon for AkzoNobel marine coatings
AkzoNobel’s marine coatings business stands to benefit from the shipping industry’s expected compliance to more environmentally-friendly or “green” regulations to improve operational efficiency, a senior executive of the specialty chemicals firm said.

Asia BD spikes on Shell force majeure; supply tightens further
Asia’s spot butadiene (BD) prices spiked by $200/tonne this week, with sellers hiking offers following an outage at Shell’s cracker in Bukom, Singapore, market sources said.

Asia, Mideast PMDI gains to be capped; buying interest dwindles
Spot polymeric methyl di-p-phenylene isocyanate (PMDI) prices in Asia and the Middle East were mostly higher this week, but may not sustain gains as buying interest has started to wane, industry sources said.