Aromatics

Benzene prices on an FOB Korea basis were bearish until the middle of the week due to a fall in crude prices. But as crude prices increased in the second half of the week, benzene prices also strengthened. Paraxylene (PX) prices on a CFR Northeast Asia basis also softened along with crude prices. But when S-Oil's No.2 PX facility in South Korea was shut down, PX prices temporarily strengthened due to supply concerns.

Olefins

In the CFR Northeast Asia ethylene market, trade was muted. In Japan, several ethylene facilities were shut down unexpectedly due to troubles. Further as regular maintenance was scheduled to take place at ethylene facilities in Japan and South Korea, supply was perceived to be tight. On the other hand, South Korea's Hanwha TotalEnergies and Malaysia's Pengerang Refining and Petrochemical (PRefChem) conducted sell tenders.

The Asia propylene market was bearish.

On a CFR Northeast Asia basis, buying interest from Chinese end-users was receding and market sentiments weakened.

In the Southeast Asia market, a naphtha cracker owned by an Indonesian petrochemical maker was shut down. Along with this, there was spot demand for delivery to Indonesia. On the other hand, a Southeast Asian petrochemical maker moved to sell an August loading cargo.

Butadiene prices in the Asia market were bearish.

On a CFR Northeast Asia basis, buying interest from end-users receded. Cargoes from outside Asia were scheduled to be delivered in August onwards while export from China was taking place. Perceptions of tight supply eased. On the other hand, derivative prices were not bullish.

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