Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 13 June 2025.

Asia-Europe VAM trade expansion driven by outages, US tariffs
By Hwee Hwee Tan 13-Jun-25 15:01 SINGAPORE (ICIS)–Vinyl acetate monomer exports from Asia to Europe are on track for expansion during the second quarter, spurred by a push among traders to take positions before a regulatory quota waiving duties for imports into Europe is exhausted.

Crude climbs more than 8% after Israeli strikes against targets in Iran
By James Dennis 13-Jun-25 12:33 SINGAPORE (ICIS)–Crude prices surged, with Brent peaking nearly $9/barrel higher early on Friday, after Israel attacked targets in Iran, raising fears of a major escalation in conflict in the Middle East and resultant disruptions to crude production and exports from that region.

INSIGHT: India’s BIS deadline may reshape global PVC trade landscape
By Aswin Kondapally 11-Jun-25 14:00 MUMBAI (ICIS)–India is at a critical juncture in determining whether to implement or extend its Quality Control Orders (QCO) for polyvinyl chloride (PVC) resin sales under the Bureau of Indian Standards (BIS) Act, with the compliance deadline set for 24 June 2025.

Asia crude glycerine offers fall as downstream ECH weakens in China
By Helen Yan 12-Jun-25 11:42 SINGAPORE (ICIS)–Offers for crude glycerine in Asia declined, weighed down by weakness in downstream epichlorohydrin (ECH) market and bearish sentiment.

ICIS China Petrochemical Price index May average falls on weak demand
By Yvonne Shi 11-Jun-25 13:48 SINGAPORE (ICIS)–China’s average petrochemical prices in May eased by 0.62% month on month as easing trade war concerns was offset by continued weakness in demand.

Indian refineries plan green hydrogen projects worth Rs2 trillion
By Priya Jestin 11-Jun-25 12:24 MUMBAI (ICIS)–India is currently planning green hydrogen initiatives worth around Indian rupees (Rs) 2 trillion ($23 billion), which include tenders for 42,000 tonne/year green hydrogen production by domestic oil refineries.

INSIGHT: India’s BIS deadline may reshape global PVC trade landscape
By Aswin Kondapally 11-Jun-25 14:00 MUMBAI (ICIS)–India is at a critical juncture in determining whether to implement or extend its Quality Control Orders (QCO) for polyvinyl chloride (PVC) resin sales under the Bureau of Indian Standards (BIS) Act, with the compliance deadline set for 24 June 2025.

China vessel age limit stalls prompt trades with India
By Hwee Hwee Tan 11-Jun-25 13:04 SINGAPORE (ICIS)–Prompt chemical tanker supply on China’s southbound trade lanes is expected to shrink following regulatory restrictions, constraining spot trades especially with India.

INSIGHT: Hydrogen unlocking China’s cement decarbonization potential
By Patricia Tao 10-Jun-25 17:58 As China steps up efforts to meet its dual carbon targets, hydrogen is becoming a practical and strategic tool to cut emissions from the country’s highly carbon-intensive cement industry.

INSIGHT: Countdown to China benzene futures debut: how will it affect the market?
By Jenny Yi 10-Jun-25 17:11 SINGAPORE (ICIS)–On 14 May, the Dalian Commodity Exchange (DCE) issued a notice to solicit public opinions on proposed futures and options contracts for benzene along with the relevant rules. The deadline for feedback was 21 May 2025, marking the countdown to the launch of benzene futures and options in China.

China’s US exports to rebound on front-loading before Aug
By Nurluqman Suratman 10-Jun-25 13:49 SINGAPORE (ICIS)–China’s exports to the US are expected to rebound in June as exporters ramp up frontloading efforts before the 90-day trade truce between the two global economic superpowers expires in August.

Asia, Mideast petrochemical markets brace for tough summer
By Jonathan Yee 09-Jun-25 11:16 SINGAPORE (ICIS)–Tariff concerns and ample supply continue to exert pressure on petrochemical markets in both Asia and the Middle East, with regional demand staying weak, with consumption in India unlikely to pick up until September.

INSIGHT: China polyester sector sees production cuts; tight supply boosts PTA/MEG
By Cindy Qiu 09-Jun-25 12:00 SINGAPORE (ICIS)–China’s polyester producers are facing mounting cost pressure, as domestic purified terephthalic acid (PTA) and monoethylene glycol (MEG) prices reaped large gains after the Labour Day holiday (1-5 May 2025) on the back of tight supply.