Asia top stories – weekly summary

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

Asia petrochemicals under pressure from China oversupply, US trade risks
By Jonathan Yee 10-Mar-25 12:42 SINGAPORE (ICIS)–Sentiment in Asia’s petrochemical markets remains cautious with prices of some products – particularly in the southeastern region – were rising on tight supply, amid escalating trade tensions between the US and its major trading partners, including China.

Asia petrochemical shares track Wall Street rout on US tariff, recession worries
By Jonathan Yee 11-Mar-25 11:30 SINGAPORE (ICIS)–Shares of petrochemical companies in Asia tumbled on Tuesday, tracking Wall Street’s rout overnight on fears of a US recession caused by tariffs.

Asia naphtha bull-run intensifies; potential risks ahead
By Li Peng Seng 12-Mar-25 13:21 SINGAPORE (ICIS)–Tight supplies and stronger-than-usual demand have driven Asia’s naphtha intermonth spread to nearly a year’s high on 11 March, but upcoming cracker maintenance and rebounding arbitrage volumes could derail the current bull-run.

Asia caprolactam spot prices decline, China plant operating rates reduce
By Isaac Tan 12-Mar-25 20:32 SINGAPORE (ICIS)–Caprolactam (capro) spot prices in Asia-Pacific declined in the week ended 12 March 2025, driven by weak benzene costs and sluggish downstream demand.

China EVA industry: navigating capacity expansion amid demand uncertainty
By Chris Qi 13-Mar-25 11:27 SINGAPORE (ICIS)–China’s ethylene vinyl acetate (EVA) industry is expected to brace for a second wave of capacity expansion during 2025-2027. The country is now the world’s largest EVA producer following intensive plant start-ups during 2021-2023.

BLOG: A Different Kind of Downturn: Why This Cycle Won’t Simply “Right Itself”
By John Richardson 13-Mar-25 11:55 SINGAPORE (ICIS)–Click here to see the latest blog post on Asian Chemical Connections by John Richardson.

INSIGHT: Poor demand dominates Asian isocyanates markets, oversupply caps Mideast gains
By Shannen Ng 13-Mar-25 13:00 SINGAPORE (ICIS)–Soft demand for key isocyanates polymeric methylene diphenyl diisocyanate (PMDI) and toluene diisocyanate (TDI) in Asia and the Middle East is expected to persist throughout March, with lengthy supply also likely to weigh on sentiment.

South Korea prepares full emergency response as US tariffs take effect
By Nurluqman Suratman 14-Mar-25 12:51 SINGAPORE (ICIS)–South Korea is initiating full emergency response measures as US steel and aluminum tariffs take effect, aiming to mitigate the impact on its economy, which is already grappling with weak exports and domestic consumption.