Asia top stories – weekly summary
ICIS Editorial
26-Mar-2018
SINGAPORE (ICIS)–Here are some of the top stories from ICIS Asia and the Middle East for the week ended 23 March.
China may face influx of US PE cargoes from
Q3
China may be inundated by US-origin spot
polyethylene (PE) offers in the third quarter,
given huge shale gas-based capacities which
could not be fully absorbed by US’ domestic
market.
Asia BD to stay firm near term on tight
supply
Spot butadiene (BD) prices in Asia may remain
firm in the near term on tight supply amid
possible delays in the start-up of a new
180,000 tonne/year plant in China.
Southeast Asia IPA under pressure from
softening feedstocks
Spot isopropanol (IPA) prices in southeast Asia
are under pressure amid a softening in
feedstock propylene and acetone values.
Asia benzene firmer after recent plunge,
outlook unclear
Asia benzene stabilized this week and started
to firm, after steep sell-off last week, but
market participants are not sure about a
near-term trend because of the volatility since
the start of the year.
Asia MMA prices reach historical high on low
supply, strong PMMA
Asia’s methyl methacrylate (MMA) spot prices
have reached historical highs amid low regional
supply and strong PMMA markets, but may
encounter a turning point when substantial
fresh volumes arrive into the region, industry
players said on Tuesday.
China domestic ECH prices plunge after recent
rise, pressure remains
China’s domestic epichlorohydrin (ECH) prices
plunged this week following its recent increase
and market participants are anticipating more
downward pressure in the near-term.
Asia MEG demand likely to improve as downstream
plant ops resume
Asia’s monoethylene glycol (MEG) demand is
expected to improve with gradual increase in
polyester production though an upward drive in
prices may be limited till such time that
robust inventory levels in China are absorbed.
China MEG expected to rebound on lower supply,
recovered demand
China’s domestic monoethylene glycol (MEG)
prices may gain upward momentum in the second
quarter of this year amid tighter supply and
stronger downstream demand.
China PE prices may rebound in Q2 as scheduled
turnarounds begin
China polyethylene (PE) prices – after
consistently falling since the Chinese Lunar
New year holiday – are expected to rebound in
Q2 on the back of scheduled turnarounds that
start in April.
India’s ban on lending instruments weighing on
chemical markets
India’s ban on key lending instruments – after
the swell of recent bank scams – is expected to
weigh on petrochemical imports by increasing
financing costs and working capital
constraints, and even pose a downside risk to
the country’s robust economic growth.
India’s urea industry growth slows down on
capex, subsidy woes
India’s extension of energy efficiency
compliance deadline for 14 urea units by two
years will ensure availability of the
fertiliser to the famers, but more structural
changes are needed to help the highly regulated
industry get back on its feet.
EU scrapping ADDs on Indonesia biodiesel fails
to eliminate uncertainty
The European Union’s decision to remove
anti-dumping duties on biodiesel imports from
Indonesia has received a muted reaction in
southeast (SE) Asia as the broader implications
for palm oil-biodiesel prices remain uncertain.
China PP under pressure on high inventories,
may rebound in Q2
China spot polypropylene (PP) is under pressure
amid heavy domestic inventories from producers,
traders and weak demand from downstream
factories, but a rebound may take place in Q2
on the back of concentrated scheduled
turnarounds.
India’s ban on lending instruments weighing on
chemical markets
India’s ban on key lending instruments – after
the swell of recent bank scams – is expected to
weigh on petrochemical imports by increasing
financing costs and working capital
constraints, and even pose a downside risk to
the country’s robust economic growth.
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