Aromatics

The FOB Korea benzene market moved in a narrow range. The price spread with benchmark feedstock naphtha shrank further from before. The paraxylene (MX) market increased slightly but was almost unchanged. There were no factors that might sharply affect supply/demand. But the market was curbed by ample supply.

Olefins

In the Northeast Asia ethylene market, few discussions took place and activity was muted as China was on holiday until Oct 8. Taiwan's Formosa Petrochemical Corporation (FPCC) closed a sell tender on Oct 8 for 10,000mt loading November. The tender was reportedly awarded to a trader at about $820/mt on an FOB basis.

The Asia propylene market was quiet. In Northeast Asia, China was on National Day holidays until Oct 8 while Korea and Taiwan were on holiday from Oct 9. As a result, few bids and offers were heard and a wait-and-see mood was strong. In Southeast Asia, Petron in the Philippines conducted a sell tender.

The Asia butadiene market rose. In Northeast Asia, supply was tight and sentiment strengthened. Early in the week, activity was subdued as players were limited but later in the week, a Korean maker sold a cargo loading end-October to early November at $840/mt on an FOB basis. In Southeast Asia, Thailand's PTTGC conducted a sell tender for second-half October loading.