Aromatics

Benzene prices on an FOB Korea basis were bullish along with strength in US benzene prices. In the US, it was the maintenance season of refineries and supply of benzene was said to be tight. Paraxylene (PX) prices on a CFR Northeast Asia basis increased in the first half of the week as benchmark feedstock crude prices were firm.

Olefins

In the Northeast Asia ethylene market, trade was muted due to Lunar New Year holidays. But some South Korean ethylene makers were showing selling interest. In the Southeast Asia market, Malaysia's Pengerang Refining and Petrochemical (PRefChem) conducted a sell tender.

Propylene prices on a CFR Southeast Asia basis softened due to an increase in supply. A deal was done for a Middle Eastern cargo while a naphtha cracker in Southeast Asia that had been shut down due to troubles restarted. For these reasons, perceptions of tight supply/demand were receding. Offers on a CFR Southeast Asia basis were heard in the mid-$800's/mt.

In the Northeast Asia butadiene market, activity was thin due to Lunar New Year holidays. As supply from the US and India was affected by facility troubles, some players were trying to buy Northeast Asian and Southeast Asian cargoes to cover the shortage. This was cited as a reason why trade prices on an FOB basis were increasing recently.

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