Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 1 March 2024.

Asian spot TiO2 market set to enjoy support in March
By Joson Ng 01-Mar-24 13:11 SINGAPORE (ICIS)–The titanium dioxide (TiO2) Asian spot market is likely to see improving or stable demand in March, especially in China, as the traditional peak demand season kicks in. As producers in China are also citing a healthy number of orders on hand, they are not likely to allow cargoes to go unless the bids are close to their valuation.

Korea’s S-Oil targets $2bn capex for Ulsan oil-to-chems project in ’24
By Pearl Bantillo 29-Feb-24 12:31 SINGAPORE (ICIS)–South Korean refiner S-Oil has earmarked won (W) 2.72tr ($2bn) this year for its thermal crude-to-chemical (TC2C) project called Shaheen, representing 87% of the total capital expenditure (capex) set for 2024.

VIDEO: China VAM market remains firm post-holiday on tighter spot supply
By Joanne Wang 29-Feb-24 11:52 SINGAPORE (ICIS)– ICIS senior industry analyst Joanne Wang reviews the vinyl acetate monomer (VAM) market in China in early 2024 and shares a brief market outlook.

Japan January inflation at 2.0%; end to negative interest rates in sight
By Nurluqman Suratman 27-Feb-24 14:37 SINGAPORE (ICIS)–Japan’s core consumer inflation in January rose by 2.0%, matching the Bank of Japan’s (BoJ) price stability target and supporting expectations that the central bank will end its ultra-low interest rates policy by April.

Asia oxo-alcohols find support in post-holiday market on tight supply
By Julia Tan 26-Feb-24 12:49 SINGAPORE (ICIS)–Asia’s spot oxo-alcohols import markets saw quiet trade in the post-holiday period, with limited buying interest from northeast Asian buyers as most opted to assume a wait-and-see stance. Buyers are generally only expected to begin procurement activity following the Lantern Festival, which took place on 24 February.

Asia BD spot market buoyant with active China exports
By Ai Teng Lim 23-Feb-24 10:54 SINGAPORE (ICIS)–Discussions for Asian butadiene (BD) imports picked up this week as China embarked on active export sales.