Asia top stories – weekly summary
ICIS Editorial
13-Feb-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 9 February 2024.
India methanol gains on lower Iran volumes amid
plant outages
By Keven Zhang
09-Feb-24 14:38 SINGAPORE (ICIS)–Indian
methanol spot market continued to be driven by
supply outages in Iran, with a trade concluded
higher than the previous week.
INSIGHT: Asia benzene
remains profitable supported by demand in
2024
By Jenny Yi 08-Feb-24 22:27 SINGAPORE
(ICIS)–Asia benzene supply growth will
moderate in 2024 compared with last year, which
saw the the peak of the latest capacity
expansion cycle. The downstream market still
maintains rapid capacity growth, however, which
exceeds the supply growth rate of benzene.
Asia
adipic acid struggles to keep up with cost
pressure ahead of holidays
By Josh Quah 08-Feb-24 13:44 SINGAPORE
(ICIS)–Adipic acid (ADA) prices in Asia have
been on a general upward trend since around
mid-December 2023 for China-origin cargoes.
INSIGHT: Asia ABS supply
length will intensify amid China
expansions
By May Hu 08-Feb-24 10:00 SINGAPORE
(ICIS)–ABS (acrylonitrile butadiene styrene)
capacity growth in Asia peaked in 2023 and will
be sustained in 2024 on massive new capacities
coming on stream in China.
China
petrochemical demand may stay muted
post-holiday
By Yvonne Shi 07-Feb-24 15:09 SINGAPORE
(ICIS)–Low market confidence has kept
petrochemical restocking
in China tepid before the Lunar New
Year holiday, with players refraining from
building up inventory given uncertain demand
recovery in March.
China
Jan petrochemical markets gain on restocking;
Feb holidays to hit demand
By Yvonne Shi 06-Feb-24 14:58
SINGAPORE(ICIS)–China’s domestic petrochemical
markets gained in end-January on the back firm
crude prices and some restocking ahead of the
Lunar New Year holiday, with demand in February
likely to weaken.
Asia
titanium dioxide spot market may be fuelled by
bullish sentiment
By Joson Ng 05-Feb-24 16:56 SINGAPORE
(ICIS)–The titanium dioxide (TiO2) spot market
in Asia is likely to see supply factors driving
the market in February.
India
hikes infrastructure capex for fourth year;
Rs11.1tr set for 2024-25
By Priya Jestin 05-Feb-24 14:49 MUMBAI
(ICIS)–India’s government has announced plans
to increase its capital expenditure on
infrastructure projects to rupees (Rs) 11.1trn
($134bn) in its interim budget for 2024-2025,
up 11% from the previous fiscal year, boosting
the funds available for the sector for the
fourth consecutive year.
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