Asia top stories - weekly summary

26 March 2018 01:00 Source:ICIS News

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.

By Staff Reporter