Asia top stories – weekly summary

Asian PO prices fall as domestic market in China tumbles
US dollar-denominated import prices of propylene oxide (PO) into China took a beating this week, as domestic yuan-denominated prices fell substantially under the presszure of sluggish downstream demand.

China domestic Shandong C3 rebounds as downstream units restart
China’s domestic propylene (C3) prices in the key Shandong market have rebounded from hefty falls as spot demand picked up following restarts of downstream facilities.

Asia naphtha drops below $600/tonne on sharp crude oil losses
Asia’s naphtha prices plummeted to their lowest level in seven months, dragged down by steep losses in crude oil futures overnight and amid a supply glut.

Asia factory output deteriorates in Oct as trade war effects seep in
Manufacturing conditions in Asia deteriorated further in October, suggesting that the negative effects from the US-China trade war have begun to seep into the region’s export-oriented industries and will continue to weigh on growth in the coming months.

Asia ABS slumps on poor demand, falling feedstock prices
Asia’s acrylonitrile-butadiene-styrene (ABS) market slumped again this week as poor demand persisted in the key Chinese market.

Asia sulphuric acid spot prices driven higher by strong Chile demand
South Korea and Japan’s sulphuric acid export bids and offers below $70/tonne have disappeared from the market in the wake of strong demand from Chile and ongoing supply shortages, sources confirmed on Wednesday.

China soda ash firms on snug supply, rising feedstock costs
China’s spot domestic prices of dense- and light-grade soda ash will be bolstered in November by firmer feedstock costs amid balanced demand-and-supply conditions.

Asia SBR, PBR may extend falls on weak NR market, China slowdown
Synthetic rubber (SR) prices in Asia may extend their decline in November due to the weakening natural rubber (NR) market amid a slowing Chinese economy and the ongoing US-China trade war.

Uncertainty reigns over India methanol market as Iran sanctions loom
India’s methanol market players are bracing for any potential impact on supply when the full US sanctions on Iran hit on 4 November.

China domestic ECH prices surge on unplanned plant shutdown
China’s domestic epichlorohydrin (ECH) offers were firmer at yuan (CNY) 13,000/tonne amid limited spot availability as a result of unexpected major plant shutdown in the country.

China’s TiO2 exports demand plunge on US tariffs
Demand for Chinese titanium dioxide (TiO2) has waned in light of the ongoing US-China trade war, adding pressure on export prices.

Asia toluene firm on prompt Chinese demand despite squeezed TDP spreads
Asia’s toluene has been firming for two weeks on the back of strong prompt Chinese import demand, despite squeezed spreads for toluene disproportionation (TDP) makers, sparking talks if these gains can be sustainable until November.

Asia PC at 15-month low on dwindling demand, supply glut
Asia’s polycarbonate (PC) prices have tumbled to a 15-month low and could stay under pressure against a backdrop of slack import demand and a supply overhang.

Asia C3 slumps as sellers liquidate cargoes amid long supply
Spot propylene prices in northeast Asia are on a downtrend, slumping 6.4% in the previous week, with traders liquidating their spot cargoes amid ample regional supply for November.