Asia’s petrochemical markets have been blended amid
financial headwinds and dampening consumption in
China amid a slowing financial system, with no let-up on
its harsh zero COVID-19 coverage, dampening
consumption.
The scenario is being exacerbated by excessive
inflation, which is threatening to plunge main
world economies right into a recession.
For the acrylonitrile-butadiene-styrene (ABS)
market, there have been restricted pillars of help
as downstream demand is weak whereas feedstock
benzene and styrene monomer (SM) costs have
additionally softened.
Up to date on 11 November 2022
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influence of coronavirus and oil value dynamics on
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information reported by ICIS.
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LATEST HEADLINES (Final up to date
at 09:00 GMT on 11 November 2022)
China
eases COVID-19 curbs, petrochemical futures
boosted
By Fanny Zhang 11-Nov-22 16:20 SINGAPORE
(ICIS)–China will loosen up its COVID-19 management
measures in view of fixing circumstances,
shoring up fairness markets accordingly. The
Nationwide Well being Fee (NHC) introduced 20
measures on Friday in a push for extra focused
and optimised management of the pandemic. Beneath
the brand new insurance policies, the quarantine time for shut
contacts of instances is shortened to 5 days in
centralised places from seven beforehand.
Asia ethylene little modified as gamers
await route from ’23 time period
talks
By Yeow Pei Lin 11-Nov-22 11:16 SINGAPORE
(ICIS)–Asia’s ethylene spot import costs for
December-arrival cargoes have been broadly secure
this week, because the weak downstream margins and
sturdy US arrivals continued to be
counterbalanced by restricted regional provide.
Bearish sentiment dominates Asia
November petrochemical
markets
By Amy Yu 11-Nov-22 10:29 SINGAPORE
(ICIS)–Bearish sentiment in Asian
petrochemical markets has risen on account of weak
demand from late October, and we count on costs
of most merchandise within the area to stay on a
downward development in November.
US chem shares surge as broader market
rises on optimistic inflation
knowledge
By Adam Yanelli 11-Nov-22 06:23 HOUSTON
(ICIS)–US-listed shares of chemical corporations
surged on Thursday, largely outperforming the
broader market which rose considerably on
beneficial financial knowledge on inflation.The Dow
Jones Industrial Common rose by 3.7%, whereas
the Dow Jones US Chemical compounds Index rose by 4.95%
and the S&P 500 Chemical compounds Trade Index
rose by 5%.
Europe PET patrons
lured by imports, however demand
questionable
By Caroline Murray 11-Nov-22 01:58LONDON
(ICIS)–The window of alternative for
polyethylene terephthalate (PET) importers
seems large on account of Europe’s distinctive value
scenario, however demand is so low that PET patrons
are not sure proceed.
British
industrial demand to stay beneath earlier
years
By ICIS Editorial 10-Nov-22 01:05 LONDON
(ICIS)–Regardless of current strain to NBP
Day-ahead and entrance month fuel costs, a return
to excessive ranges of commercial offtake in Britain
is unlikely, ICIS evaluation reveals. Regular
industrial demand over the previous 5 years has
averaged 10mcm every day. Nevertheless, because the rise
of fuel costs in Britain, industrial fuel
offtake has dropped to round 5.6mcm from
January to November 2022.
EU, eurozone
September chems costs decline modestly in
break up market
By Morgan Condon 10-Nov-22 01:30 LONDON
(ICIS)–Chemical pricing in September was blended
for European producers, with some key
manufacturing nations bucking the modest
declines recorded within the eurozone and wider EU,
in accordance with the EU’s statistical company,
Eurostat.
The most recent knowledge from Eurostat signifies that
Italy and Poland recorded single-figure positive aspects
in contrast with the earlier month, supported by
smaller positive aspects in France and Germany.
Asia
BDO retreats on poor demand, weak home
China market
By Clive Ong 10-Nov-22 11:27 SINGAPORE
(ICIS)–The Asian 1,4-butanediol (BDO) market
trended decrease as demand within the area
dissipated amid a poor financial outlook. Some
contributors consider that demand within the area,
particularly China, may stay weak till
after the Lunar New 12 months in late January.
Asia
petrochemical markets blended amid excessive
inflation
By Felicia Lavatory 09-Nov-22 14:28 SINGAPORE
(ICIS)–Asia’s petrochemical markets have been blended
amid financial headwinds and dampening
consumption in China amid a slowing financial system,
with no let-up on its harsh zero COVID-19
coverage, dampening consumption.
China, India
ethanolamines markets underneath downward strain
as demand wanes
By Clive Ong 10-Nov-22 14:28 SINGAPORE
(ICIS)–The ethanolamines markets in China and
India stay underneath downward strain amid
prevailing weak demand and ample provide.
Individuals proceed to count on weak markets in
the close to time period as the worldwide financial outlook
stays unsure.
China’s MEC demand disrupted by
zero-COVID technique
By Keven Zhang 09-Nov-22 11:41 SINGAPORE
(ICIS)–China’s methylene chloride (MEC) costs
noticed steep falls prior to now two weeks on account of
disruption to its home demand by the brand new
spherical of lockdowns applied to comprise the
COVID-19 unfold within the nation, though
manufacturing cutbacks could present some help in
the close to time period.
INSIGHT: Extra
ache for chemical compounds as US Federal Reserve has ‘a
methods to go’ on charge hikes
By Joseph Chang 03-Nov-22 06:25 NEW YORK
(ICIS)–US and international chemical producers will
seemingly see extra ache forward because the US Federal
Reserve nonetheless has a “methods to go” in its
tightening cycle to deliver inflation all the way down to its
2% goal. It’s not pausing or pivoting, and
not budging from its goal. The US fairness
market as measured by the S&P 500 fell 2.5%
on 2 November on disappointment that the Fed
gave no indication it’ll cease curiosity
elevating charges, apart from acknowledging it has
already tightened financial coverage
considerably. The Fed hiked its benchmark charge
by 0.75 proportion factors – its third
consecutive hike of that magnitude – to a spread
of three.75-4.00%. “Our message is evident – we predict
now we have a methods to go. Now we have some floor to
cowl with rates of interest earlier than we get to that
degree… we predict is sufficiently restrictive,”
stated Fed chair Jerome Powell on the Federal
Open Market Committee (FOMC) press convention.
INSIGHT: Asia
October PMIs level to broadening export
downturn
By Nurluqman Suratman 02-Nov-22 17:21 SINGAPORE
(ICIS)–Amid falling new orders and stock
build-up, Asia’s export downturn is broadening
with the most recent knowledge pointing to additional
weak spot in manufacturing unit exercise throughout the area.
The slowdown in manufacturing exercise has now
widened from northeast Asia to additionally embrace
southeast Asia amid waning export demand.
Asia’s manufacturing buying managers’ index
(PMIs) fell in October to a mean of 49.6,
down from 50.7 in September, due largely to a
fall in new orders and decrease manufacturing as
export orders weakened additional.
China’s Oct
petchem market falls on oversupply, poor
confidence
By Yvonne Shi 02-Nov-22 12:57 SINGAPORE
(ICIS)–China’s petrochemical market fell
considerably in October. As of October 31, the
ICIS China Petrochemical Value Index (which
tracks 17 commodities) dropped 5.4% from
September 30 to shut at 1220.11 factors. The
fast fall after a pointy rise after the
Nationwide Day vacation displays sluggish demand
and lack of market confidence. China’s
petrochemical market began the downtrend from
the center of the month until the top. An
official supply earlier than the twentieth Nationwide
Congress of the Communist Occasion of China
disclosed that China’s epidemic prevention and
management will proceed to stick to the
zero-COVID coverage, which hit market confidence
severely.
UK manufacturing
sector output contracts additional as new orders
dry up
By Tom Brown 01-Nov-22 20:00 LONDON (ICIS)–UK
manufacturing sector output slipped additional
into contraction in October, and hit a 29-month
low as new order volumes shrank on the quickest
charge since Might 2020, in accordance with knowledge from
S&P International on Tuesday. The sector
buying managers’ index (PMI) fell additional
within the month, dropping to 46.2 from 48.4 in
September, though they have been stronger than
preliminary readings for the month of 45.8. A PMI
rating beneath 50.0 signifies contraction. It was
the third consecutive month of contraction for
the sector, because the financial outlook continued
to deteriorate. New orders and new export
enterprise each declined within the month. Gamers in
the UK cited softer demand from China, the battle
in Ukraine and ongoing obstacles to exporting
posed by Brexit. Enterprise optimism slipped to
the bottom degree because the peak of the
COVID-19 pandemic.
China posts 3.9% Q3 GDP progress; President Xi
secures third time period
By Pearl Bantillo 24-Oct-22 13:21 SINGAPORE
(ICIS)–China posted an annualised GDP progress
of three.9% within the third quarter, up from 0.4% in
the earlier quarter, however a mixture of a
zero-COVID coverage and a property downturn will
proceed to weigh on the world’s second-biggest
financial system.
US financial system continues to sluggish, recession seemingly
– NABE survey
By Stefan Baumgarten 24-Oct-22 22:00 HOUSTON
(ICIS)–The US financial system continues to sluggish and is
seemingly already in recession or could quickly be in
recession, in accordance with findings within the newest
enterprise situations survey by the Nationwide
Affiliation for Enterprise Economics (NABE) on
Monday.
INSIGHT: Asia C3 to face headwinds in fourth
quarter
By Julia Tan 25-Oct-22 10:00 SINGAPORE
(ICIS)–The Asian propylene market is going through
headwinds because it steps into the fourth quarter
as demand appears prone to stay weak till the
finish of the yr on poor by-product margins.
China PP lacks post-holiday help as weak
demand overshadows excessive
prices
By Zhibo Xiao 27-Oct-22 12:34 SINGAPORE
(ICIS)–Home polypropylene (PP) costs in
China rose after which fell after the nation’s
Nationwide Day vacation on 1-7 October as bearish
demand outweighed the transient surge in crude
values.
INSIGHT: A brand new world for Asia olefins as
capability surges, demand stays
unsure
By Amy Yu 28-Oct-22 12:00 SINGAPORE (ICIS)–The
Asia olefins business is witnessing a brand new world
of considerably squeezed margins for all
producers, with incremental capability addtions
set towards the backdrop of weak demand.
CDI Financial Abstract: Recession odds rise as
slowdown takes maintain amid Fed
tightening
By Kevin Swift 27-Oct-22 23:07 CHARLOTTE, North
Carolina (ICIS)–Financial tightening throughout the
world led by the US Federal Reserve, protracted
inflation and geopolitical occasions have raised
the chances of recession in lots of main economies.
Asia petrochemicals keep bearish as China retains
zero-COVID coverage
By Nurluqman Suratman 21-Oct-22 11:40 SINGAPORE
(ICIS)–Bearish sentiment prevails throughout
Asia’s petrochemical markets with no rapid
finish in sight on China’s zero-COVID technique,
which has been weighing on total industrial
actions of the world’s second-biggest
financial system.
South and East Asia LAB quiet whereas rising
feedstock prices squeeze
margins
By Clive Ong 20-Oct-22 17:02 SINGAPORE
(ICIS)–The linear alkyl benzene (LAB) market
in East and South Asia stays quiet whereas
suppliers talked of squeezed margins from
rising feedstock prices. The need for greater
values, nonetheless, have been countered by the
persistently weak demand within the area.
India, SE Asia ethanolamines stay underneath
strain from aggressive
provides
By Clive Ong 20-Oct-22 15:13 SINGAPORE
(ICIS)—The ethanolamines markets in southeast
Asia and India stay underneath downward strain
from aggressive provides and tepid demand.
Individuals anticipate additional weak spot within the
close to time period because the Chinese language market appears set to
stay weak.
INSIGHT: Japan financial system to seek out succor in
automotive output restoration
By Pearl Bantillo 20-Oct-22 12:25 SINGAPORE
(ICIS)–Japan could possibly depend on a
restoration in automobile manufacturing, which ought to
present much-needed boosts to associated
industries, together with petrochemicals, to
cushion its financial downturn.
INSIGHT: European residence enchancment sector
slumps on financial slowdown, post-COVID
results
By Nicole Simpson 19-Oct-22 21:33 LONDON
(ICIS)–As the specter of recession looms over
Europe and customers look to chop again on
pointless spending, demand for residence
enchancment and do-it-yourself (DIY) items has
plummeted.
Asia oleochemicals market seemingly flat in This autumn on
zero-COVID coverage in China
By Helen Yan 19-Oct-22 12:44 SINGAPORE
(ICIS)–Asia’s oleochemicals market is predicted
to stay flat within the fourth quarter as a result of
prevailing sluggish demand from China amid its
zero-COVID coverage, which is predicted to stay
in place for the remainder of this yr.
INSIGHT: International demand stoop eclipses Asia
export advantages from foreign money
falls
By Pearl Bantillo 18-Oct-22 13:14 SINGAPORE
(ICIS)–Asia’s tumbling currencies is not going to
spell sturdy exports for the area as a
mixture of surging inflation and excessive
rates of interest slows the tempo of worldwide
financial actions.
EPCA ’22: Chemical compounds provide chains lengthening,
safety of provide more and more vital –
Vopak CEO
By Nigel Davis 07-Oct-22 17:40 BERLIN
(ICIS)–Chemical compounds provide chains have gotten
essentially longer as customers and producers
see markets balancing between imports and native
manufacturing, the CEO at tank storage operator
Vopak stated this week.
China September petrochemical markets up;
demand outlook nonetheless bleak
By Yvonne Shi 11-Oct-22 14:16 SINGAPORE
(ICIS)–China’s petrochemical markets have been
largely greater in September on provide tightness
in some merchandise and aided by pre-holiday
restocking, however total demand shouldn’t be anticipated
to enhance by a lot within the coming months.
IMF trims creating Asia progress outlook on
China weak spot
By Nurluqman Suratman 12-Oct-22 12:46 SINGAPORE
(ICIS)–The Worldwide Financial Fund (IMF)
has trimmed its financial progress forecast for
rising and creating Asian economies on
account of China’s slowdown.
Asia BDO market faces lengthening
provide, unsure demand
By Clive
Ong 13-Oct-22 13:07 SINGAPORE (ICIS)–The
nascent restoration in Asian’s 1,4-butanediol
(BDO) market in September now faces the
problem of lengthening provide with demand
staying unsure.
Singapore This autumn GDP progress slows to 4.4%, financial
coverage tightened
By Nurluqman Suratman 14-Oct-22 11:37 SINGAPORE
(ICIS)–Singapore’s central financial institution on Friday
tightened its financial coverage to dampen
persistent value pressures which has slowed its
financial system to a year-on-year progress of 4.4% within the
fourth quarter.
EPCA ’22: Chemical business could sluggish
however should handle by means of cycle, Equate
CEO
By Nigel Davis 06-Oct-22 17:11 BERLIN
(ICIS)–The chemical business could sluggish over the
subsequent 12 months however it’s a query of managing
by means of the cycle, Equate’s CEO Naser Aldousari
stated on the sidelines of EPCA 2022 on
Wednesday. Aldousari stays optimistic for the
sector and emphasises its resilience.
Asia This autumn
petrochemical demand faces headwinds as international
financial system slows
By Felicia Lavatory 06-Oct-22 14:28 SINGAPORE
(ICIS)–Petrochemical demand in Asia might be
largely undermined as a result of regional factories
face continued weak spot in export demand within the
fourth quarter.
EPCA
’22: COVID-19 pandemic set gender parity again a
era – Dow exec
By Tom Brown 05-Oct-22 23:21 BERLIN (ICIS)–The
influence of the COVID-19 pandemic set the
progress of gender parity again 30 years, Dow’s
head of inclusion and variety stated on
Wednesday, due to the disproportionate
influence it had on ladies’s participation within the
labour market.
EPCA
’22: Europe ADA, nylon 6,6 demand could weaken
additional in October
By Marta Fern 05-Oct-22 16:00 LONDON
(ICIS)–European adipic acid (ADA) and
downstream nylon 6,6 markets face affordability
issues, excessive prices of manufacturing and
competitors with decrease priced imports from
Asia.
EPCA
’22: European auto output will solely get better to
pre-pandemic ranges in
2025 – analyst
By Jonathan Lopez 04-Oct-22 18:21 BERLIN
(ICIS)–Manufacturing from the European
petrochemicals-intensive automotive sector is
unlikely to get better to pre-pandemic ranges
till 2025 on the earliest, a chemical compounds analyst
on the Boston Consulting Group (BCG) stated on
Tuesday.
Andreas Gocke, international lead for chemical compounds at
BCG, stated the battle in Ukraine and supply-chain
points have solely seen an additional deterioration
within the outlook for the automotive sector, which
was already destructive in 2021.
EPCA ’22: Weak demand, wider
uncertainty shapes Europe acrylate esters
outlook
By Mathew Jolin-Beech 04-Oct-22
22:00 LONDON (ICIS)–Europe’s acrylate
esters markets are set to be gripped by ongoing
weak demand and wider macroeconomic uncertainty
in This autumn and early 2023.
EPCA ’22: PODCAST: Europe
petrochemicals face ‘winter of
discontent
By Will Beacham 04-Oct-22 15:19 BERLIN
(ICIS)–Europe’s petrochemical sector faces a
‘winter of discontent’, battered by excessive vitality
prices, collapsing downstream demand and
elevated imports from Asia. On this Suppose Tank
podcast, Will Beacham interviews ICIS Perception
editor Nigel Davis, ICIS senior analyst Lorenzo
Meazza, and Paul Hodges, chairman of New Regular
Consulting. The European Petrochemicals
Affiliation (EPCA) annual assembly runs on 4-6
October in Berlin.
EPCA ‘22: Demand issues loom over
Europe PC market in This autumn
By Miguel Rodriguez Fernandez 03-Oct-22 19:14
LONDON (ICIS)–Pessimism reigns within the European
polycarbonate (PC) market shifting into the top
of 2022 as demand from the important thing buyer sectors
is prone to stay tepid on account of Europe’s dim
macroeconomic outlook.
INSIGHT: Traits converging to create This autumn glut in
US plastics
By Al Greenwood 30-Sep-22 05:21 HOUSTON
(ICIS)–North American polymer markets are
going through a rising glut due to weakening
demand, increasing capability and rising
inventories.
Europe financial sentiment dropping as Germany
on brink of recession
By Morgan Condon 29-Sep-22 23:13 LONDON
(ICIS)–European financial sentiment continued
falling in September, for each the EU and the
eurozone, and the German financial system is heading
in direction of a recession, as sentiment is formed by
sustained excessive vitality costs.
Lockdowns, property disaster to sluggish China 2022
GDP progress to 2.8% – World
Financial institution
By Nurluqman Suratman 29-Sep-22 13:3 SINGAPORE
(ICIS)–China, the world’s second-biggest
financial system, is projected to develop at a a lot slower
tempo of two.8% this yr in contrast with an earlier
forecast of 5.0%, in accordance with the World Financial institution,
amid the nation’s zero-COVID coverage and
ongoing property disaster.
INSIGHT: India PVC market weathers stormy first
half, safeguard investigation
begins
By Damini Dabholkar 29-Sep-22 11:00 SINGAPORE
(ICIS) –India’s polyvinyl chloride (PVC) market
stabilised barely in September, after having
weathered a storm over the earlier 12 months.
China’s PE costs rebound, eyes on demand
sustainability
By Sijia Li 28-Sep-22 12:11 SINGAPORE
(ICIS)–China’s polyethylene (PE) costs have
rebounded following continuous declines within the
previous two months, discovering help from improved
end-user demand through the September-October
conventional peak season.
INSIGHT: Excessive value threatens Asia petrochemical
output as regional currencies
tumble
By Pearl Bantillo 27-Sep-22 12:26 SINGAPORE
(ICIS)–Asia’s petrochemical manufacturing is at
threat of shrinking additional as imported uncooked
supplies get dearer every day that
Asian currencies tumble to new lows.
INSIGHT: Russia-Ukraine battle, surging inflation
proceed to dim progress
expectations
By Tom Brown 27-Sep-22 00:17 LONDON (ICIS)–The
outlook for international progress is constant to
darken because the financial system loses momentum within the
wake of the Russia-Ukraine battle, with recent
financial projections pointing to a considerable
deterioration in prospects from 2023 even
relative to a couple months in the past
US HB Fuller sees rebound in Asia, slowdown in
Europe
By Al Greenwood 23-Sep-22 05:43 HOUSON
(ICIS)–HB Fuller started to see a rebound in
Asian demand throughout its fiscal third quarter
as a result of China is reopening from its COVID-19
lockdowns, the US-based adhesives producer stated
on Thursday, a development that different chemical
producers have but to see.
INSIGHT: US plastics turns into sixth-largest
business
By Melissa Wheeler 22-Sep-22 23:21 HOUSTON
(ICIS)–The US plastics business has moved two
spots as much as develop into the sixth-largest business
within the nation, in accordance with the Plastics
Trade Affiliation (PLASTICS).
Asia MEG market underneath strain as downstream
cuts operation to ease excessive
inventories
By Judith Wang 22-Sep-22 18:13 SINGAPORE
(ICIS)–Asia’s monoethylene glycol (MEG) market
has been underneath strain through the week as
downstream polyester sector initiated one other
spherical of operation cuts in a bid to alleviate
stock strain.
INSIGHT: Widespread demand discount makes a
powerful quarter harder
By Nigel Davis 21-Sep-22 23:49 LONDON
(ICIS)–It has been a tricky third quarter for
most upstream producers of chemical compounds and others
as weaker demand and rising prices have mixed
to hit earnings and shift steerage.
US inland truck capability will increase as demand
stays agency
By Adam Yanelli 21-Sep-22 05:15 HOUSTON
(ICIS)–Spot and contract charges for inland
truck deliveries have fallen from record-highs
as capability has elevated and demand has
remained sturdy, in accordance with panelists on a
webinar hosted by provide chain market
intelligence supplier Freightwaves.
INSIGHT: Asia petrochemical market to rebound
in September
By Amy Yu 15-Sep-22 18:17 SINGAPORE (ICIS)–
Some Asia petrochemical costs rebounded in
early September after the lower in August.
China Aug petrochemical costs fall on
poor consumption; Sept demand picks
up
By Yvonne Shi 13-Sep-22 15:53 SINGAPORE
(ICIS)–China’s petrochemical costs weakened
in August amid poor consumption and declines in
crude values.
INSIGHT: China’s PP market bearish in Jul-Aug,
eyes on demand efficiency
By Zhibo Xiao 12-Sep-22 17:21 SINGAPORE
(ICIS)–China’s polypropylene (PP) costs have been
on a downtrend in July-August, on account of subdued
home and abroad demand. Shifting ahead,
demand is prone to choose up on the normal
peak season in September and October and extra
export alternatives.
