Asia top stories: weekly summary

17 October 2016 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 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.

By Staff Reporter