Asia top stories: weekly summary
ICIS Editorial
31-Oct-2016
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 28 October 2016.
Asia BPA falls to 7-month low on weak demand,
outlook bearish
Asia’s spot prices of bisphenol A (BPA) have slumped to a
near seven month low as a result of weak domestic markets and
frail China import demand with a bearish near-term outlook,
industry sources said.
Asia’s toluene prices to fluctuate amid mixed
fundamentals
Asia’s toluene prices are expected to fluctuate in the near
term on the back of mixed demand-supply fundamentals amid
weaker Chinese import interest, market participants
said.
India LLDPE, HDPE outlook sluggish despite buoyant
China
Spot polyethylene (PE) importers in India maintained a
bearish price outlook for mainstream linear low density
(LLDPE) and high density (HDPE) film grades, despite a
recovery in demand and offtake in the key China market,
market sources said.
India phenol prices tumble; losses may deepen as
glut builds
Spot phenol prices into India may extend a supply-driven
slump amid growing anxiety that a glut is building across
Asia, market sources said.
China’s benzene end-users start initial 2017
contract price talks
China’s benzene end users have started to exchange initial
ideas of 2017 term prices with their suppliers, with a
variety of pricing strategies emerging in early
discussions.
Asia’s EVA prices firm on good demand, limited
supply
Asian ethylene vinyl acetate (EVA) prices gained substantial
ground to reach the highest levels since March as producers
sought price hikes for November shipment cargoes amid robust
demand for foaming grade EVA from the downstream footwear
materials sector.
Asia ADA prices rise on cost pressure, upside seen
limited
Asia’s adipic acid (ADA) spot prices rose this week on raw
material cost pressure and low inventory, but the uptrend is
expected to be limited as the year-end demand has slowed
down, market sources said.
Asia gas market to stay tepid until 2020 on weak
fundamentals
Asia’s gas market will likely remain soft until the end of
the decade as supply continues to grow while demand is
expected to stay tepid amid weakness in the global economy,
industry observers said.
Asia SBR makers hike November offers by
$100/tonne
Major Asian styrene butadiene rubber (SBR) producers have
hiked their offers for November shipments by $100/tonne,
market sources said.
Chinese polyester maintains uptrend, long-term
outlook unclear
Chinese polyester staple fibre (PSF) and filament yarn (PFY)
export prices maintained an uptrend as a pick-up in seasonal
demand in the Chinese domestic market lent strength to spot
prices, market sources said.
China soda ash prices at six-month highs on
increased costs, buoyant demand
China’s soda ash suppliers continue to raise offers for
November shipments of both dense and light grade material on
the back of buoyant domestic demand, increased feedstock
costs and delivery costs in the domestic market.
MEGlobal on track to start up US plant in mid-2019
– CEO
MEGlobal is on track to start up its shale gas-based 750,000
tonne/year monoethylene glycol (MEG) plant in the US in the
middle of 2019, its president and CEO Ramesh Ramachandran
told ICIS.
China BDO may retreat from 2016 peak on rising
domestic supply
Spot prices of 1,4-butanediol (BDO) in China are expected to
come off from their peak this year as domestic supply is
expected to rise in the near term, market sources
said.
Asia etac uptrend stalls; feedstock shortage may
curb downside
The upward momentum in Asian ethyl acetate (etac) prices has
eased after prices rose to a one-year high. However, the
market downside is also expected to be curbed by feedstock
supply constraints, market sources said.
Asia Group II base oil spot prices to snap out of
downtrend
Spot prices of Group II base oil in Asia, particularly those
of high viscosity 500/600N cargoes, are expected to halt
their downtrend as regional supply has tightened, market
sources said.
Asia MEG on third week of gains amid bullish
market sentiment
Spot monoethylene glycol (MEG) prices in Asia are poised for
a third straight week of gains, rising on bullish sentiment
in both upstream and downstream markets, industry sources
said.
SE Asia PP outlook uncertain amid opposing market
factors
The outlook for the polypropylene (PP) market in Southeast
Asia remains uncertain amid opposing market factors, players
said.
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