Asia top stories – weekly summary
ICIS Editorial
22-Jan-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 19 January 2024.
China capacity expansion to widen Asia MIBK
price spreads
By Hwee Hwee Tan 19-Jan-24 11:19 SINGAPORE
(ICIS)–Asia’s methyl isobutyl ketone (MIBK)
import price indications were mixed as buying
interest softened in China, where a massive
capacity expansion looks set to transform the
largest regional economy into a net exporter
for the product.
China achieves 2023 GDP growth target;
challenges cloud 2024 prospects
China’s economic growth has accelerated to 5.2%
in 2023 from a pandemic-hit pace of 3.0% in the
previous year, but a prolonged slump in its
property sector and weak external demand
threaten 2024 recovery prospects. The 2023 GDP
print of the world’s second-biggest economy,
largely within the government’s expectations of
“around 5%”.
Singapore Dec petrochemical exports fall 14%;
NODX down 1.5%
By Nurluqman Suratman 17-Jan-24 10:45 SINGAPORE
(ICIS)–Singapore’s petrochemical exports in
December fell by 14% year on year to Singapore
dollar (S$) 1.09bn, weighing on overall non-oil
domestic (NODX) abroad, official data showed on
Wednesday. The country’s overall non-oil
domestic (NODX) for the month fell by 1.5% year
on year to S$14bn, reversing the 1.0% increase
in the preceding month, Enterprise Singapore
data showed.
Asia toluene buying interest improves; spread
against benzene widens
By Melanie Wee 16-Jan-24 12:00 SINGAPORE
(ICIS)–Asia toluene spot markets are holding
steady on buoyant demand amid a widening spread
to benzene. Improved buying interest for
February cargoes for solvents sector
application offered market support, aiding in
propping up Asia toluene prices.
Asia MMA sellers’ sentiment stays strong on
supply crunch for Jan, Feb
By Jasmine Khoo 15-Jan-24 11:03 SINGAPORE
(ICIS)–Spot methyl methacrylate (MMA) supply
in Asia is poised to be curtailed by low
operating rates across regional facilities and
feedstock cost pressure which could extend into
February.
PODCAST: Asia PP to continue being weighed by
oversupply in 2024
By Zhibo Xiao 17-Jan-24 14:25 SINGAPORE
(ICIS)–ICIS analysts Joanne Wang, Zhibo Xiao
and Jackie Wong discuss the Asian polypropylene
(PP) market and outlook for 2024.
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Contact us
Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.
Contact us to learn how we can support you as you transact today and plan for tomorrow.
READ MORE
![](https://cjp-rbi-icis.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/7/2024/01/16170556/ContactUs_Services.jpg)