Asia top stories – weekly summary
ICIS Editorial
10-Jun-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 7 June 2024.
Vietnam’s increase in recycled PE imports boost
market mood
By Arianne Perez 07-Jun-24 14:37 Producers of
recycled polyethylene (rPE) in northeast and
southeast Asia have seen a recent uptrend in
spot orders from Vietnam amid new requirements
from brand owners.
Asia MEG demand slows amid limited Mideast
cargoes; China supply to grow
By Judith Wang 06-Jun-24 13:57 SINGAPORE
(ICIS)–A tug of war between snug import
availability and slowing demand is likely to
continue in Asia’s monoethylene glycol (MEG)
market, while an expected increase in China’s
domestic supply could shake things up in the
near term.
INSIGHT: New measures for China property market
boon for chemicals
By Lina Xu 05-Jun-24 10:00 SINGAPORE
(ICIS)–The People’s Bank of China (PBoC)
released a series of new real estate-related
policies on 17 May, including a nationwide
removal of minimum interest rate on commercial
personal housing loans; reduction in minimum
down payment ratio for both first-time and
second-time home buyers; and lower interest
rate on housing provident fund.
NE Asia C2 market sees pressure from long
supply, downstream shutdowns
By Josh Quah 03-Jun-24 10:49 SINGAPORE
(ICIS)–Asia ethylene markets are likely to
still face pressure from an overhang of
regional supply from May despite some
production corrections in June.
Asia DEG shrugs off China’s suspended tariff
concessions on Taiwan material
By Judith Wang 03-Jun-24 15:20 SINGAPORE
(ICIS)–Asia’s diethylene glycol (DEG) market
is shrugging off China’s decision to suspend
tariff concession on its imports of Taiwanese
material.
China PX buyers prefer domestic over imports on
differing yuan exchange rates
By Samuel Wong 06-Jun-24 12:36 SINGAPORE
(ICIS)–The difference in exchange rates for
the Chinese yuan (CNY) set by the People’s Bank
of China (PBOC) and the prevailing spot market
rate saw downstream purified terephthalic acid
(PTA) users in China preferring domestic
paraxylene (PX) cargoes over imported cargoes.
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