SINGAPORE (ICIS)– Here are the leading stories from.
ICIS News Asia and the Middle East for the week.
ended 4 November 2022.
NE.
Asia C2 sellers look for greater rates for area Dec.
freights; purchasers reluctant
Area ethylene (C2) purchasers in China and Taiwan.
headed for the sidelines due to greater selling.
cost signs for December-arrival freights.
and falling downstream margins.
China.
BD import conversations stall on domestic market.
losses; outlook blended
Conversations in China for butadiene (BD) imports.
stalled after domestic rates in the nation.
plunged early in the week.
INSIGHT: Asia October.
PMIs indicate widening export.
recession
By Nurluqman Suratman
02-Nov-22 17:21 SINGAPORE (ICIS)– In the middle of falling.
brand-new orders and stock accumulation, Asia’s.
export recession is widening with the most recent.
information indicating more weak point in factory.
activity throughout the area.
Asia.
glycerine providers target China amidst.
oversupply, Europe need.
downturn
By Helen Yan 03-Nov-22 13:07 SINGAPORE.
( ICIS)– Asia’s glycerine providers are.
targeting the Chinese market amidst an oversupply.
from increased biodiesel output and plunging.
need in Europe.
Asian.
recyclers look for balance in between feedstock.
security, storage.
restrictions
By Arianne Perez 02-Nov-22 17:21 SINGAPORE.
( ICIS)– Asian manufacturers of recycled.
polyethylene terephthalate (R-PET) and recycled.
polyethylene (R-PE) need a fragile balance.
in between constant purchases of feedstock while.
preventing complete storage capabilities at plants.
China’s Oct petchem.
market falls on oversupply, bad.
self-confidence
By Yvonne Shi 02-Nov-22 12:57 SINGAPORE.
( ICIS)– China’s petrochemical market fell.
substantially in October. Since October 31, the.
ICIS China Petrochemical Cost Index (which.
tracks 17 products) dropped 5.4% from.
September 30 to close at 1220.11 points.
INSIGHT: New potential customers.
for China’s petrochemical market following.
20th Celebration Congress
By Joey Zhou 01-Nov-22 19:26 SINGAPORE.
( ICIS)– China intends to move its economy from.
” high-speed” development” towards “high quality”.
development, president Xi Jinping stated in a report.
at the opening session of the 20th National.
Congress of the Communist Celebration of China on 16.
October. The report sets out the nation’s.
advancement goals for 2035, with the objective.
of “substantially increasing financial strength,.
clinical and technological abilities, and.
composite nationwide strength”.
INSIGHT: Weak worldwide.
need to continue moistening China PE market.
self-confidence
By Joanne Wang 01-Nov-22 11:00 SINGAPORE.
( ICIS)– Bearish domestic and abroad need.
might continue to moisten self-confidence in China’s.
polyethylene (PE) market in the 4th quarter,.
or perhaps in 2023.
Asia’s caustic soda area.
supply to enhance as arbitrage need.
cools
By Jonathan Chou 31-Oct-22 17:25 SINGAPORE.
( ICIS)– Slowing arbitrage need from Europe.
for Asian area product of liquid caustic soda.
might cause enhanced supply in Asia, while.
near-term area need in Asia is most likely to be.
capped amidst macroeconomic obstacles.
Saudi.
Arabia’s SABIC Q3 net revenue falls 67.1% amidst.
greater expenses
By Nurluqman Suratman 31-Oct-22 11:34.
SINGAPORE (ICIS)– Saudi petrochemicals significant.
SABIC published a 67.1% year-on-year drop in its.
3rd quarter net revenue on the back of greater.
expenses regardless of a boost in sales volumes.
