Asia top stories - weekly summary

02 October 2017 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 29 September 2017.

China methanol softens on trade slowdown; may rise post-holidays
China’s methanol prices softened this week as trades have slowed down ahead of the country’s “Golden Week”, but look set to increase post-holidays.

Southeast Asia PP hits 25-month highs; correction may ensue
Southeast Asia's polypropylene (PP) prices are currently at their highest levels in more than two years and may be due for a correction in the coming weeks on bearish sentiment, market players said.

Asia BD may extend falls near term on weak China market
Spot butadiene (BD) prices in Asia may fall further in the near term, weighed down by slumping Chinese domestic market and weak sentiment ahead of the early October holidays in the northeastern part of the region.

China PE rebounds on restocking, delayed arrivals of Iran cargoes
Polyethylene (PE) prices in China have snapped two weeks of declines, buoyed up by restocking activities amid expected delays in arrivals of Iran cargoes, market sources said.

Asia MEG likely to extend losses for third consecutive week
Asia's monoethylene glycol (MEG) prices are likely to extend their losses for the third consecutive week amid bearish sentiment and offloading of cargoes prior to the Golden Week holiday in the key China market.

China domestic PO prices seen stable-to-soft on weak demand
China’s domestic propylene oxide (PO) prices are expected be stable-to-soft in the near term as end-users have mostly completed their restocking activity ahead of a week-long holiday in October.

China's massive chemical plant relocations lack funding
China plans to complete a massive relocation of chemical plants away from cities by 2025, but financial constraints may hamper the project, which is estimated to cost Chinese yuan (CNY) 800bn ($121bn), industry sources said.

Asia, Middle East TDI to stay at record highs on tight supply
Toluene di-isocyanate (TDI) prices in Asia and the Middle East surged to record highs – a deja vu of the market movement almost exactly a year ago – due to tight supply, but further sharp gains are not expected.

By Staff Reporter