Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 3 January.

OUTLOOK ’25: Asia acetic acid supply glut to balloon on capacity expansion
By Hwee Hwee Tan 30-Dec-24 11:00 SINGAPORE (ICIS)–Asia acetic acid supply is likely to outstrip demand on the back of China’s significant capacity growth into 2025, prompting producers to review regional plant run rates and supply contracts.

OUTLOOK ’25: Asia ABS, SAN to start year on upbeat note
By Angeline Soh 31-Dec-24 11:00 SINGAPORE (ICIS)–The acrylonitrile-butadiene-styrene (ABS) and styrene acrylonitrile (SAN) markets in Asia are expected to start the new year on an upbeat note after festivity-driven trades, amid caution about possible tariffs on exports to the US.

OUTLOOK ’25: Volatile feedstock to weigh on Asia fatty alcohol mid-cuts in Q1
By Helen Yan 02-Jan-25 11:00 SINGAPORE (ICIS)–Buyers and sellers of fatty alcohols mid-cuts in Asia are expected to tussle over the market’s trajectory in the first quarter of 2025 amid volatile feedstock palm kernel oil (PKO) prices.

Singapore Q4 economy grows 4.3%; whole-year GDP rises 4.0%
By Jonathan Yee 02-Jan-25 11:45 SINGAPORE (ICIS)–Singapore’s GDP rose 4.3% in the fourth quarter of 2024, supported by an increase in public sector construction output, official advance estimates showed on Thursday.

S Korea GDP forecast cut amid political uncertainty, trade headwinds
By Nurluqman Suratman 02-Jan-25 14:38 SINGAPORE (ICIS)–South Korea’s finance ministry on 2 January slashed the country’s 2025 GDP growth forecast to 1.8% from a previous projection of 2.6% amid growing domestic demand and trade uncertainties.

OUTLOOK ’25: Asia methanol demand still uncertain amid new capacities
By Damini Dabholkar 03-Jan-25 11:00 SINGAPORE (ICIS)–The outlook for methanol in Asia continues to be uncertain, with factors such as additional capacity, seasonal gas issues and upcoming downstream demand expected to play a role in this.