Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis moved in a narrow range. In the first half of the week, prices temporarily softened but the market increased in the second half of the week. Since crude prices were expected to be firm due to the driving season, there seemed to be little room for benzene and PX prices to fall.

Olefins

In the Northeast Asia ethylene market, activity was thin in general. Since benchmark feedstock naphtha prices were bearish in the week, end-users wanted to check directions of the naphtha market and they were taking a wait-and-see stance. In talks related to market quotations, a deal was reportedly done for an end-user in an area along the Yangtze River.

In the Asia propylene market, movements were thin in general.

In Northeast Asia, sellers were still showing a bullish attitude as available cargoes were limited. On the other hand, end-users were not in a hurry for buying and trade was stagnant.

In Taiwan, a petrochemical maker conducted a sell tender for a cargo loading from the end of July to first-half August. As bids were lower than the price that company wanted to sell at, the tender was cancelled.

In Southeast Asia, a Malaysian petrochemical maker conducted a sell tender.

In the Asia butadiene market, prices going were unclear.

On a CFR Northeast Asia basis, buying interest from end-users was observed but they were not showing buying ideas at fixed prices. Meanwhile, sellers were reluctant to sell at current prices as procurement costs were high.

In Southeast Asia, a petrochemical maker conducted a sell tender.

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