Asia top stories – weekly summary
ICIS Editorial
26-Aug-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 23 August 2024.
INSIGHT: Asia BD capacity growth to accelerate
to 10% in 2025
By Ann Sun 23-Aug-24 10:35 SINGAPORE
(ICIS)–The Asian butadiene (BD) market is
anticipated to experience large-scale capacity
expansion between Q4 this year and end-2025,
with nine projects scheduled to begin
operations.
Asia BDO market demand unable to reduce
inventories, oversupply persists
By Corey Chew 22-Aug-24 11:16 SINGAPORE
(ICIS)–The Asian 1,4-butanediol (BDO) market
has been going through a downtrend that started
about a month ago, mainly due to the falling
domestic China market.
INSIGHT: China’s EVA capacity expected to
exceed 2.6 million tonnes in 2024
By Amy Yu 20-Aug-24 17:12 SINGAPORE
(ICIS)–China’s EVA capacity is forecast to
exceed 2.6 million tonnes in 2024, a
year-on-year growth rate of 17%, considering
Jiangsu Hongjing New Material a new plant with
200,000 tonnes/year is scheduled to come on
stream in Q4.
INSIGHT: China plasticizer alcohols’ supply
growth accelerating
By Lina Xu 19-Aug-24 17:08 SINGAPORE
(ICIS)–China’s plasticizer market is
diversifying, leading the supply expansion of
feedstock alcohols amid high requirements for
end-products and growing emphasis on
sustainability in operations in recent years.
Asia naphtha back in the black within a day;
volatility to stay
By Li Peng Seng 19-Aug-24 11:06 SINGAPORE
(ICIS)–Asia’s naphtha intermonth spread
returned to the positive zone on 16 August,
after slipping into the red the day before for
the first time this year, with volatile trades
expected to persist amid uncertainties over
supply balances.
INSIGHT: China’s MEG export market changes amid
volatile global fundamentals
By Cindy Qiu 22-Aug-24 14:00 SINGAPORE
(ICIS)–China’s monoethylene glycol (MEG)
exports have been on an uptrend in recent years
due to the rapid expansion of domestic
capacity. MEG exports totalled around 93,000
tonnes in January-June 2024 and are expected to
exceed 150,000 tonnes for the year as a whole.
India’s BPCL to invest Rs1.7 trillion on
capacity growth over five years
By Priya Jestin 20-Aug-24 12:58 MUMBAI
(ICIS)–India’s state-owned Bharat Petroleum
Corp Ltd (BPCL) plans to invest rupee (Rs) 1.7
trillion ($20.3 billion) over the next five
years to grow its refining and fuel marketing
business, as well as expand its petrochemicals
and green energy businesses.
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