Petrotahlil -Here are the top stories from ICIS News Asia and the Middle East for the week ended 17 July 2020.
Asia petrochemical shares higher on Wall Street rally, vaccine hopes
Asian petrochemical shares were higher on Wednesday, tracking the rally on Wall Street overnight with risk appetite further bolstered by optimism over a coronavirus vaccine.
Asia MEG market to see pressure from slowing demand despite cost support
Asia's import monoethylene glycol (MEG) market is expected to be weighed down by slowing polyester demand, although feedstock cost remains high.
Asian OX supply to decline, demand dependent on downstream recovery
Supply of orthoxylene (OX) within Asia is expected to decline in the near term, as production rates are curtailed by weak margins.
NE Asia propylene supply tightening; China import demand uncertain
Propylene supply in northeast Asia is tightening amid uncertain import demand from China, where two new propane dehydrogenation (PDH) units are due to come on stream in the near term.
India bent on seeking alternative to China for petrochemical imports
Indian petrochemical importers are seeking alternative sources of cargoes to China, on what appears to be a government-led campaign to reduce heavy reliance on imports from the northeast Asian economic giant.