Asia top stories – weekly summary

Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 16 February 2018.

Asia C2 falls to 26-week low; supply to remain ample but demand limited
Ethylene import prices in northeast Asia are at a 26-week low due to an ample supply of February shipments from the region and the Middle East, while demand is limited during the holiday-shortened week.

China acetic acid low inventory may moderate price correction in Asia
Asia’s acetic acid price correction may be moderated as several key suppliers in China were unable to commit cargoes for export due to their prevailing low inventories following the recent spate of plant outages.

China urea prices stabilise; market enters holiday mode
China’s urea prices have been largely flat since early February and the quiet market may be sustained during the week-long Lunar New Year holiday because of muted downstream demand.

China’s acetic acid may rebound post holiday on firm demand
China’s domestic acetic acid prices are likely to rebound after an upcoming week-long holiday with stable supply but larger downstream demand to replenish depleted stocks.

China MMA supply may tighten in March on plant turnarounds
China’s methyl methacrylate (MMA) supply is likely to tighten in March as producers will build up inventory for contract customers ahead of the scheduled turnarounds at domestic and overseas plants.

China NBA market subdued in pre-holiday trade as demand weakens
China’s domestic n-butanol (NBA) market is seeing very few deals as downstream n-butyl acetate plants have started shutting down for the week-long Lunar New Year holiday in the country.

China DEG faces downward pressure in muted trading
China’s domestic diethylene glycol (DEG) prices are likely to come under pressure during the second half of February due to weakened downstream demand and a pileup in port inventories.

China BPA seen under pressure in Feb, slight rebound likely in March
China’s bisphenol A (BPA) prices are likely to continue their downtrend this month but there may be slight recovery in March when business resumes in full swing in the country after Lunar New Year holidays.

China toluene prices expected to rebound after Lunar New Year
China toluene prices are expected to rebound after the Lunar New Year holiday on increased demand from downstream markets, according to sources.

China ACN gains on tight supply; downstream market bearish
China’s domestic acrylonitrile (ACN) prices have been rising ahead of the week-long Lunar New Year holiday, bucking the trend of other chemical fibre products, as supply of the chemical has tightened amid the government’s strict environmental protection campaign.

Propylene at 3-year high, outlook different for east China and Shandong
China’s spot propylene (C3) is on a three-year high on the back of low inventories and some unplanned shutdowns, with firming trend expected to continue in east China but a slight softening is expected in Shandong, ahead and after the Lunar New Year holiday.