Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 16 August 2024.

China July industrial output growth slows; H2 outlook dims
By Nurluqman Suratman 15-Aug-24 16:49 SINGAPORE (ICIS)–China’s industrial output growth in July slowed to a four-month low of 5.1%, aggravating concerns about continued manufacturing slowdown, with a growing set of data suggesting the world’s second-largest economy is struggling to gain momentum.

Asia PBT market faces logistical challenges amid Q3 lull
By Corey Chew 15-Aug-24 10:29 SINGAPORE (ICIS)–The Asia polybutylene terephthalate (PBT) market saw the Indian region being affected by logistical challenges to a larger extent compared to northeast Asia.

Major S Korea producers withdraw ADD probe petition against China SM
By Luffy Wu 14-Aug-24 18:45 SINGAPORE (ICIS)–South Korean producers Hanwha Total Energies and Yeochon NCC are withdrawing their request for an antidumping probe on styrene monomer (SM) imports from China, based on a petition they filed with the Korea Trade Commission on 12 August.

Singapore’s 2024 key exports growth forecast trimmed on demand concerns
By Nurluqman Suratman 13-Aug-24 15:30 SINGAPORE (ICIS)–Singapore’s non-oil domestic exports (NODX) growth forecast for 2024 has been revised downward to 4-5%, Enterprise Singapore (EnterpriseSG) said on 13 August.

China July petrochemical index falls as demand remains sluggish
By Yvonne Shi 12-Aug-24 15:55 SINGAPORE (ICIS)–The ICIS China petrochemical index dropped by 3.07% month on month to 1,241.5 in July, with acetone experiencing the largest decline due to weak downstream demand.