Asia top stories – weekly summary

ICIS Editorial

17-Dec-2018

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 14 December 2018.

Bearish sentiment clouds Middle East and India PE pipe grade outlook
A bearish sentiment clouds the market outlook for high density polyethylene (HDPE) pipe grade material in the Middle East and south Asia markets.

Asia PO market sentiment improves on China plant shutdown
Recent declines in Asian import prices of propylene oxide (PO) look set to ease, as domestic yuan-denominated prices in China started to rebound this week with tighter prompt supplies.

Asia melamine on freewheel fall on sluggish demand, supply deluge
Asia’s melamine prices may further diminish in a market, already denuded of healthy demand, as producers, keen to keep inventories low on their books at year-end, enthuse to sell off their stocks.

China’s gasoline and gasoil trading sentiment to stay weak
China’s trading sentiment of gasoline and gasoil is expected to remain weak next week, as buyers confine themselves to need-to-basis purchases amid seasonal winter lull.

China PE pipe grade moving to stability after steep declines in Nov
High density polyethylene (HDPE) pipe grade black 100 spot import prices into China are finally stablising after steep and consecutive weeks of decline in November.

China MMA to stay stable till Feb as supply to balance out demand
Prices of methyl methacrylate (MMA) in east China may stay stagnant, as an increase flow of spot supply could overshadow an uptick in demand ahead of the Lunar New Year in early February.

Asia PMDI hits fresh low on poor buying interest, demand seen weak
Asia’s polymeric di-p-phenylene isocyanate (PMDI) prices may hit yet another fresh 2-year low as offers are declining because sellers want to elicit buying interest.

China’s domestic ECH prices plunge to year-lows; recovery unlikely
China’s domestic epichlorohydrin (ECH) prices were softer at yuan (CNY) 9,000-10,000/tonne amid weak demand, a situation likely to continue in the near term.

Asia EDC at 4-year highs on tight spot supply, changing trade flows
Ethylene dichloride (EDC) prices in Asia are at their highest in four years, and prices may remain supported into the first quarter of 2019 on continued tightness in spot supply.

Asia ACN declines on cheaper deep-sea cargoes; downtrend to be limited
Asia’s acrylonitrile (ACN) prices fell to a level last seen in early August 2017 due to inflow of cheaper deep-sea cargoes and prevailing sluggish demand, but the downtrend is expected to be limited amid the rebounding market in China and squeezed margins.

Asia C3 rebounds on improved sentiment, China PP market gains
Spot propylene prices in northeast Asia rebounded, snapping the sharp downtrend from early November, on the back of improved sentiment and gains in downstream polypropylene (PP) market in China.

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