Asia top stories: weekly summary

10 July 2017 03:51 Source:ICIS News

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle East for the week ended 7 July.

China’s Iran petchem imports at risk; payment delays may worsen
China’s imports of Iran petrochemicals may slow down further amid expectations of a worsening of payment delays, as foreign trades are subject to stricter scrutiny as part of an anti-money laundering drive in the world’s second-biggest economy, industry sources said.

China PE market under pressure from low-priced Iran cargoes
China’s polyethylene (PE) market is being weighed down by availability of competitively priced cargoes from Iran amid tightened scrutiny of all transactions with the Middle Eastern country.

China’s soda ash export prices to remain supported by snug supply
China’s soda ash export prices in the latter half of the year were likely to remain bolstered at the prevailing levels or higher on a combination of reduced inventory levels, buoyant domestic demand and firm feedstock coal costs, market players said.

China SBR may extend gains; buying picks up after BD spike
Spot prices of styrene butadiene rubber (SBR) in China may rise further on the back of renewed buying interest following recent spikes in costs of key feedstock butadiene (BD) costs.

China Group II base oil makers fret over consumption tax revamp
Chinese Group II base oils producers are bracing for the expected imposition of consumption tax on products classified as white oil and its feedstock, as this may directly hit domestic production, industry sources said.

Lotte Chem Titan’s Malaysia IPO meets lukewarm investor response
Lotte Chemical Titan Holding Bhd (LCT) has reduced the size of its initial public offering (IPO) in Malaysia by more than a fifth to 580m shares, followed by a cut in the offer price to ringgit (M$) 6.50/share, following lukewarm response from investors.

INTERACTIVE: Singapore's manufacturing sector to lose steam - analysts
Singapore’s manufacturing sector is expected to lose steam in the coming months amid signs that demand from key market China may wane in the coming quarters, according to analysts.

China LNG prices may extend decline amid supply glut
Prices of liquefied natural gas (LNG) in China may continue to fall in July as the domestic supply glut is unlikely to ease in the near term, industry sources said.

Asia BD loses momentum; buyers retreat on volatile China market
Asia’s spot butadiene (BD) price gains appear to be losing momentum as buyers have retreated to the sidelines amid extreme volatility in the key Chinese market.

China mixed aromatics to trade sideways in Q3; may gain in Q4
China’s mixed aromatics could trade sideways in the third quarter, with any upward price pull from crude likely to be negated by weak demand for downstream blended gasoline amid high stocks, industry sources said on Monday.

INTERACTIVE: SE Asia industries maintain expansion mode in H1
Southeast Asia's manufacturing sector has managed to remain on an expansionary mode throughout the first half of 2017 although June data came in weaker compared with May, with resilient domestic demand likely to continue supporting the region’s economic growth for the rest of the year, analysts said.

China PP domestic market likely to be range bound in July
China’s polypropylene (PP) domestic prices are likely to be stable or fluctuate in a narrow range in July as demand remains weak but supply becomes less due to turnarounds and inventories of major producers come down.

By Staff Reporter