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www.icis.com: Asia petrochemical glut bites as SE region in recession, China demand wanes

Read Full Article Here: https://www.icis.com/explore/resources/news/2020/08/14/10541204/asia-petrochemical-glut-bites-as-se-region-in-recession-china-demand-wanes

SUPPLY OUTPACES DEMAND“To some extent in China, what I think has happened is production has got ahead of demand,” ICIS senior consultant John Richardson said.

In the polystyrene (PS) markets of the Middle East and south Asia, price support would crumble as demand from China weakens.

For linear alkylbenzene (LAB), supply in Asia would tighten with fewer export volumes from China, where domestic demand is robust.

In the butyl acetate (butac) market, demand in southeast Asia region is still in a recovery mode since some countries are still in lockdown.

“Demand from southeast Asia is expected to offer more support to prices than China,” Sun said.

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