Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 20 September 2024.

India LAB market mired in soft demand, ample supply
By Clive Ong 20-Sep-24 13:47 SINGAPORE (ICIS)–India’s linear alkylbenzene (LAB) market remains mired in tepid demand and ample availability of spot cargoes.

Weak demand pick-up in China weighs on Asia petrochemicals
By Nurluqman Suratman 16-Sep-24 14:21 SINGAPORE (ICIS)–Demand in bellwether market China has not picked up as expected ahead of its week-long holiday in October, further dimming recovery prospects for Asia’s petrochemical markets for the rest of year.

India’s BPA import price nears five-month low amid ample supply
By Li Peng Seng 18-Sep-24 10:26 SINGAPORE (ICIS)–India’s bisphenol A (BPA) import prices on 13 September extended their downward trend for the sixth straight week, weighed down by abundant supplies, slow demand and easing ocean freight rates.

INSIGHT: Asia needs carbon credits, financing to accelerate energy transition
By Bee Lin Chow 17-Sep-24 17:11 SINGAPORE (ICIS)–Asian countries need high integrity carbon credits and credible financing mechanisms to keep pace with their energy transition commitments in line with the Paris Agreement.

Thai SCG to run Vietnam petrochemical complex on US ethane
By Nurluqman Suratman 19-Sep-24 13:18 SINGAPORE (ICIS)–Thai conglomerate Siam Cement Group (SCG) plans to use ethane imported from the US as feedstock for its Long Son Petrochemical (LSP) complex in Vietnam to boost the project’s long-term competitiveness.

INSIGHT: Asia petrochemical price pressure continues in September on weaker crude pricing
By Jimmy Zhang 19-Sep-24 18:01 SINGAPORE (ICIS)–A significant portion of Asia petrochemical prices are expected to continue decreasing in September, driven largely by the decline in crude values during the month, with market sentiment bearish.

Asia naphtha market may firm on supply constraints
By Li Peng Seng 16-Sep-24 12:03 SINGAPORE (ICIS)–Asia’s naphtha market has held steady over the past week, but could strengthen in the short term due to fewer cracker maintenance and lower-than-usual arbitrage cargo arrivals expected from the west in October.