Aromatics

The FOB Korea benzene market increased sharply and was temporarily in the $900's/mt. The market was boosted by a sharp rise in derivative styrene monomer (SM) prices and US benzene prices. But in the second half of week, the rise in the market shrank along with a fall in SM prices. As a result, the market was fluctuating. The paraxylene (PX) market moved in a narrow range. Maintenance was taking place at many derivative PTA facilities and demand was currently low. This curbed the PX market.

Olefins

The CFR Northeast Asia ethylene market increased slightly due to tight supply since inflow of cargoes from outside the region was not expected and maintenance of ethylene facilities was taking place one after another in Asia. On the other hand, in China, new facilities would start operations and supply was expected to increase.

In the Asia propylene market, CFR Northeast Asia and CFR Southeast Asia prices fell while FOB Korea prices were firm. In Northeast Asia, China domestic cargoes were ample and buying interest from end-users was thin. As a result, discussion levels moved down. On the other hand, propylene facilities in Japan and Korea were undergoing maintenance or experiencing troubles and supply was seen to be tight. Under this situation, discussion levels on an FOB basis remained high.

In the Asia butadiene market, buying interest for imported cargoes was weak amid falling China domestic prices. In Northeast Asia, availability of imported cargoes was not ample but owing to softening China domestic prices, buying interest from end-users slackened. On the other hand, sellers had few cargoes on hand and showed no hurry to sell.