Asia top stories – weekly summary
ICIS Editorial
18-Mar-2018
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 16 March 2018.
Asia SM extends weekly losses as weak sentiment
persists
Asia’s styrene monomer (SM) prices slid further
in the week as sentiment remained bearish, but
demand is expected to pick up in the near term
due to scheduled turnarounds in the key China
market.
China DEG likely to continue bearish trend on
soaring inventory
Diethylene glycol (DEG) prices in the Chinese
domestic market are likely to continue their
bearish trend in March on ample supply and
sluggish demand with some change expected early
next month when oversupply eases due to planned
turnarounds.
Asia SBR under pressure amid slowdown in tyre
production
Asia’s spot styrene butadiene rubber (SBR)
prices are under pressure amid a slowdown in
downstream tyre production in view of carbon
black’s shortage and price surge in China.
SE Asia PA hits one-year high, uptrend
supported by tight supply
Southeast Asia phthalic anhydride (PA) prices
have hit a one-year high at $1,150/tonne, and
may continue to climb amid tight supply.
RBI ban on LOUs, LOCs hampers Indian polymer
trade
A ban announced by the Reserve Bank of India
(RBI) on the issuance of letters of undertaking
(LOUs) and letters of comfort (LOCs) on 13
March 2018 has led to a significant slowdown in
the polymers market in India, and will make
trade more expensive.
Tight supply amid slow demand clouds outlook
for China melamine
Even as China melamine makers closed some
export deals this week, outlook for sustained
spot trade liquidity is murky on divergent
buy-sell views on market supply/demand
fundamentals.
China can shrug off US’ steel and aluminium
tariffs, for now
China’s overall exports are unlikely to be
dented by the US’ recent decision to impose
tariffs on steel and aluminium imports, but
there are concerns about further protectionist
measures that would be disruptive to global
trade.
NE Asia ethylene prices extend gains in early
week discussions
Spot ethylene import prices in northeast Asia
rose in early week discussions ahead of cracker
turnaround period although the recent weak
performance of key downstream sectors has
tempered suppliers’ bullish sentiment.
Asia PMMA hits 6-year high; breaches
$3,000/tonne on short supply
Asia’s polymethyl methacrylate (PMMA) prices
have climbed to a six-year high – above the
$3,000/tonne mark – and may remain supported in
the near term because of short supply.
China carbon black prices surge on supply
shortage
Carbon black prices in China have continued to
surge this year due to a supply shortage amid
massive plant shutdowns caused by the Chinese
government’s intensifying environmental
protection campaign, industry sources said.
Asia ABS faces downward pressure from weak
demand, falling SM
Asia’s acrylonitrile butadiene styrene (ABS)
prices are facing downward pressure from
slowing demand in the key China market and amid
falling feedstock costs.
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