Aromatics

The Asia aromatics market weakened briefly in the middle of the week but rebounded in the second half of the week along with changes in the crude market. On May 1, many Asian countries were on holiday and movements were thin.

Olefins

The CFR Northeast Asia ethylene market increased. Cargoes to be delivered until the middle of May had been in surplus before but several cargoes were traded and such perceptions of surplus supply eased. Further, views emerged that supply might decrease along with maintenance at naphtha crackers. In the second half of the week, a deal for June delivery was reportedly done at $380-390/mt.

The Asia propylene market moved up. In Northeast Asia, as China domestic prices were firm and availability was not ample, end-users were interested to buy imported cargoes. This gave the market a boost. On an FOB Korea basis, one maker sold a cargo loading end-May via a tender. In Southeast Asia, no bids and offers were heard and activity was thin.

The Asia butadiene market rose slightly. In Northeast Asia, as China domestic prices were relatively higher, some sellers adopted a bullish stance. But as many imported cargoes were expected to arrive going forwards, buying interest from end-users for imported cargoes was not strong. As a result, the market only moved up slightly. On an FOB Korea and a CFR Southeast Asia basis, no bids and offers were reported and activity was muted.