Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 22 November.

Bearish sentiment in Asian naphtha market likely short-lived
By Li Peng Seng 18-Nov-24 11:46 SINGAPORE (ICIS)–Asia’s naphtha market sentiment nosedived last week amid bearish pressures, but cracker expansion in South Korea and gasoline demand ahead of a festive season will likely buoy up demand.

Thai PTTGC plans $840 million 5-year capex; focus on Allnex growth
By Jonathan Yee 18-Nov-24 17:12 SINGAPORE (ICIS)–Thai chemicals producer PTT Global Chemical plans capital expenditure (capex) of $840 million in the next five years, more than 78% of which will be invested to grow its Germany-based specialty chemicals subsidiary Allnex.

INSIGHT: Most Asia petrochemical markets to post Nov losses
By Lina Xu 18-Nov-24 15:55 SINGAPORE (ICIS)–Most petrochemical markets in Asia are expected to register losses in November on slowing demand as the year draws to a close.

China’s PC market faces ongoing supply pressure
By Li Peng Seng 19-Nov-24 11:42 SINGAPORE (ICIS)–China’s polycarbonate (PC) import market is likely to remain under pressure due to persistent oversupply, trade conflicts and geopolitical uncertainties.

Asia caustic soda unlikely to see immediate impact from China’s removal of aluminium export tax rebates
By Jonathan Chou 20-Nov-24 12:30 SINGAPORE (ICIS)–China’s announcement to end export tax rebates on aluminium effective on 1 December may have limited long-term changes in caustic soda’s demand and supply conditions in Asia.

SE Asia bottlenecks disrupt regional chemical tanker operations
By Hwee Hwee Tan 21-Nov-24 11:57 SINGAPORE (ICIS)–Persistent delays in tanker operations in southeast Asia are snowballing into wider vessel schedule disruptions across intra-Asia trade lanes.

More stringent regulations to hamper Asia’s rPET exports
By Arianne Perez 22-Nov-24 14:20 SINGAPORE (ICIS)–Major producers of high-value recycled polyethylene terephthalate (rPET) flakes and pellets from Asia continue to aim for a growing market share in premium markets including the Americas and Europe.