Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 4 October.

INSIGHT: Bold policy moves might not arrest China economic slowdown
By Nurluqman Suratman 30-Sep-24 13:51 SINGAPORE (ICIS)–In a bold move to revitalize its economy and restore investor confidence, China unveiled a comprehensive package of monetary and fiscal measures less than a week before the country goes on a week-long holiday.

Focus: China urea to stay weak on ample supply and low demand
By Rita Wang 30-Sep-24 18:14 SINGAPORE (ICIS)–China’s urea market rebounded slightly recently, but the outlook for the spot market remains weak due to high inventories, restricted exports and the upcoming lull season.

Asia EDC spot demand likely to taper; regional supply to improve in end-2024
By Jonathan Chou 01-Oct-24 18:15 SINGAPORE (ICIS)–Asia’s spot EDC demand may be capped in the near term with buyers adequately stocked. Market players are watching out for ripple effects from China’s recent blitz of stimulus measures that may impact conditions for main derivative polyvinyl chloride (PVC).

Asia PVC conditions may see limited impact from China stimulus measures
By Jonathan Chou 02-Oct-24 13:48 SINGAPORE (ICIS)–Some bullishness was observed recently in China’s domestic market, in part due to its government’s stimulus measures.

India faces BOPP film overcapacity on start-ups in next two years
By Aswin Kondapally 02-Oct-24 22:11 MUMBAI (ICIS)–India is facing an oversupply of biaxially oriented polypropylene (BOPP) film, with nine new domestic production lines set to come on stream, which will exert heavy pressure on the market over the next two years.

Asia MMA prices see first sharp fall in 2024 on bearish market conditions
By Jasmine Khoo 03-Oct-24 10:06 SINGAPORE (ICIS)–Asia methyl methacrylate (MMA) spot import prices were assessed significantly softer in the week ended 27 September, reflecting significant price falls for the first time in 2024.

INSIGHT: China Sept small-to-medium factories’ output shrinks on poor demand
By Jonathan Yee 04-Oct-24 11:00 SINGAPORE (ICIS)–Manufacturing output of China’s small to medium enterprises went back to into contraction mode in September, underscoring continued and widespread weakness in the world’s second-biggest economy.