Asia top stories: weekly summary
ICIS Editorial
17-Oct-2016
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 14 October 2016.
Shell Singapore cuts October MEG contract volumes
– sources
Shell Singapore has reduced its monoethylene glycol (MEG)
contract volumes for October shipments to some of its buyers,
following the outage at its cracker in Pulau Bukom, market
sources said.
Long supply, weak downstream sectors weigh on Asia
PX market
Asia’s spot paraxylene (PX) prices are likely to remain under
downward pressure from ample regional supply amid continued
weakness in downstream markets, industry sources said.
Asia isomer-grade xylene supply to remain tight
into November
Isomer-grade xylene supply in northeast Asia is considered
short amid a spate of plant turnarounds in the region, with
prices for October and November-loading cargoes expected to
be stable-to-firm, market participants said.
Asia SBR extends gains on soaring feedstock BD
costs
Asia’s styrene butadiene rubber (SBR) prices may remain on an
uptrend for the rest of the month on the back of soaring
feedstock butadiene (BD) costs, market sources said.
Asia acrylates makers mull output cuts on squeezed
margins
Asian acrylate esters makers are mulling cutting production
at their plants because of squeezed margins and thin demand,
market sources said.
China methanol surges post-holiday; Q4 outlook
generally strong
Spot import methanol in the key China market rose sharply
post-holiday, supported by overall increases in upstream
energy values, improved buying interest to replenish stocks,
higher domestic prices and general optimism over the fourth
quarter outlook.
Northeast Asia ethylene prices rebound post-China
holiday
Ethylene prices in northeast Asia increased for the first
time in six weeks, with the recovery driven by restocking
activity in China, higher Chinese domestic polyethylene (PE)
prices and an outage at Shell’s cracker in Singapore, market
sources said.
China’s domestic melamine prices surge amid
uncertain outlook
China’s domestic prices of melamine rose sharply this week as
supply tightened following a recent spate of forced
production cuts due to mandatory government inspections, and
this will add on to he uncertainty over how prices will trend
in the near term, market players said.
China domestic TDI prices more than double to
record highs
Domestic toluene di-isocyanate (TDI) prices in China have
more than doubled over a three-week period to record highs,
with no apparent support from supply-demand fundamentals,
industry sources said.
Asia etac may extend gains on surging China export
offers
The prices of ethyl acetate (etac) in Asia may extend a
rebound on the back of surging offers from China, market
participants said.
China BG prices rise to 11-month high, may extend
gains
Spot butyl glycol (BG) prices into China may extend gains
after reaching an 11-month high on the back of a post-holiday
domestic market rally, market participants
said.
Middle East TDI supplies dry up as China
price surge spills over
A surge in spot import prices of toluene di-isocyanate (TDI)
in China spilled over to the Middle East as sellers
redirected existing cargoes to the more lucrative market,
causing a similar jump in prices in Gulf Cooperation Council
(GCC) nations.
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