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(ICIS) -- Spot prices of petrochemicals in
Asia may get a good nudge up following an expected virtual halt in trades next
week as the region celebrates the Lunar New Year, with most market players
hoping for a strong pick-up in buying activities.
China will be out of the market for a full week on 22-28 January, while
Taiwan will have a three-day holiday. In South Korea, Singapore, Indonesia and
Malaysia, the shift to the Year of the Dragon in the Chinese calendar will be
celebrated for two days at the start of that week.
Prices of some petrochemical products in the region have either been
falling or trading sideways since the start of the year, as demand traditionally
weakens in the weeks leading to the Lunar New Year celebration, which is
happening a bit early in 2012.
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