Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for last week.

China etac snaps 16-week surge after hitting near three-year highs
China’s export prices for ethyl acetate (etac) snapped 16 weeks of steady increase after hitting near three-year highs, but further losses are likely to be limited in the near term, market players said.

NE Asia ethylene gains as China buyers build up year-end stocks
Spot import prices of ethylene in northeast Asia are up for the first time in seven weeks, amid healthy Chinese demand ahead of the 2018 term discussions and due to higher downstream styrene monomer (SM) and monoethylene glycol (MEG) values.

China BPA hits 35-month high; may extend gains on tight supply
China’s bisphenol A (BPA) prices surged to a 35-month high and look set to continue rising on the back of strong downstream demand and tight availability of spot supply in the domestic market, industry sources said.

Asia PS suppliers target higher prices amid upstream spikes
Asian polystyrene (PS) makers are targeting higher prices for remaining November shipments following sharp increases in upstream markets, but whether such ambitious selling expectations can materialise will hinge on demand, market participants said on Friday.

China gasoil prices hit year-to-date highs on tight supply, strong crude
China’s gasoil prices have been fluctuating upwards since July and may rise further during the rest of the year, driven by continuing tight spot availability and robust international crude markets, industry sources said on Thursday.

Asia R-PET seen stable amid shrinking China imports
Recycled polyethylene (R-PET) prices in Asia may remain stable in the near term amid shrinking imports of the material in the key China market.