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Asia Top Stories – Weekly Summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 6 October 2023.

NE Asia C2 outlook clouded by oil rout ahead of China re-opening
By Yeow Pei Lin 06-Oct-23 11:44 SINGAPORE (ICIS)–Northeast Asia’s spot ethylene (C2) prices were broadly stable in holiday-thinned trade this week but the deep slump in oil prices has set a cautious tone ahead of the reopening of the China market.

S Korea inflation accelerates; central bank likely to keep interest rates high
By Nurluqman Suratman 05-Oct-23 14:00 SINGAPORE (ICIS)–South Korea’s consumer inflation accelerated for the second straight month in September, with the country’s central bank likely to keep interest rates high to stave off upward price pressures.

Asia toluene slumps on low demand; improved supply
By Melanie Wee 05-Oct-23 13:29 SINGAPORE (ICIS)–Asia toluene spot markets softened on the back of downbeat demand in thin holiday trade, while tracking losses in crude oil futures.

Asia MEK faces continued upstream pressures; snug supply lends support
By Joy Foo 04-Oct-23 10:43 SINGAPORE (ICIS)–Upstream cost pressure has been key in driving Asia’s bullish methyl ethyl ketone (MEK) market in September, while key suppliers are experiencing tight spot supply into0 October.

INSIGHT: Vietnam braces for a more pronounced economic slowdown
By Pearl Bantillo 03-Oct-23 18:35 SINGAPORE (ICIS)–Vietnam looks set to miss its 6.5% GDP growth target this year, with average growth in the first nine months coming at only 4.2% as exports contract, with no immediate recovery in external demand in the horizon.

Asia palms freight weighed down by slow India demand, excess chemical tonnage
By Hwee Hwee Tan 03-Oct-23 13:11 SINGAPORE (ICIS)–Asia’s palms freight market is expected to remain subdued through October amid disappointing pre-holiday restocking demand in India and a build-up of excess tonnage spilling over from slower easy chemical trades.

Source : ICIS