Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 February 2025.

INSIGHT: South Korea broadens aid for struggling petrochemical industry
By Nurluqman Suratman 07-Feb-25 11:29
SINGAPORE (ICIS)–South Korea is streamlining regulations to make it easier for regions densely populated by petrochemical companies to qualify as “industrial crisis response areas”, a designation that unlocks government support and financial assistance to mitigate impact of market downturns.

Asia PE pipe prices get lift from tighter Mideast supply
By Izham Ahmad 06-Feb-25 11:01
SINGAPORE (ICIS)–Deals and offers for polyethylene (PE) pipe grade in China and southeast Asia in the week ending 5 February were mostly firmer.

China petrochemical futures mixed amid renewed US-China trade war
By Jonathan Yee 05-Feb-25 16:05
SINGAPORE (ICIS)–China’s petrochemical futures markets were mixed on Wednesday after the country reopened following its Lunar New Year holiday, amid a trade war renewal with the US on 4 February.

Japan’s Asahi Kasei 9-month income surges; basic materials swing to profit
By Nurluqman Suratman 05-Feb-25 14:20
SINGAPORE (ICIS)–Asahi Kasei’s net income surged by 68.1% year on year in the nine months to December 2024, supported by improved petrochemical prices and lower fixed costs, the Japanese chemicals major said on Wednesday.

UPDATE: Oil gains, Asia petrochemical shares fall as Trump starts trade war
By Nurluqman Suratman 03-Feb-25 14:16
SINGAPORE (ICIS)–Oil prices jumped while shares of petrochemical firms in Asia tumbled on Monday, after US President Donald Trump imposed tariffs on China, Canada and Mexico.

Asia rPE, rPP demand from packaging stays subdued in Q1
By Arianne Perez 07-Feb-25 15:40
SINGAPORE (ICIS)–The use of recycled polyethylene (rPE) and recycled polypropylene (rPP) for the packaging of fast-moving consumer goods (FMCGs) has been weak in general for Q1.