Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 12 July 2024.

OUTLOOK: Asia naphtha market braces for supply uncertainties
By Li Peng Seng 12-Jul-24 12:00 SINGAPORE (ICIS)–Asia’s naphtha market sentiment is expected to be choppy in the short term due to a lack of clarity on arbitrage supplies against volatile demand.

OUTLOOK: Asia EVA market loses shine as demand from PV sector lags
By Helen Lee 11-Jul-24 11:25 SINGAPORE (ICIS)–Demand for ethylene vinyl acetate (EVA) from China’s photovoltaic (PV) industry is likely to remain lackluster amid an oversupply in the entire industry chain.

PODCAST: China to accelerate hydrogen development via energy law
By Patricia Tao 10-Jul-24 11:25 SINGAPORE (ICIS)–China’s recent decision to include hydrogen in its draft national energy law signals a transformative shift in the country’s energy landscape.

China EV giant BYD to invest $1 billion in Turkey production plant
By Nurluqman Suratman 09-Jul-24 15:24 SINGAPORE (ICIS)–Chinese electric vehicle (EV) giant BYD has agreed to invest $1 billion to set up a manufacturing plant in Turkey which will produce up to 150,000 vehicles per year.

PODCAST: Asia recycling market sees increased interest in pyrolysis
By Damini Dabholkar 09-Jul-24 11:17 SINGAPORE (ICIS)–Market players in Asia are increasingly becoming more interested in the use of pyrolysis oil as fuel.

OUTLOOK: SE Asia PE to see some demand recovery in H2, challenges persist
By Izham Ahmad 09-Jul-24 15:07 SINGAPORE (ICIS)–The southeast Asian polyethylene (PE) market is expected to face modest demand recovery in the second half (H2) of the year, but this is likely to be negated by increased supply and the threat of high freight costs affecting import shipments.