Aromatics

Benzene prices on an FOB Korea basis decreased at the beginning of the week. But prices rebounded after that along with gains in crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis fell at the beginning of the week. After that, prices moved in a narrow range. As shipments of downstream polyester products were dull and demand was receding, the market was pressured.

Olefins

Ethylene prices on a CFR Northeast Asia basis were firm. Some ethylene facilities in Japan were shut down due to troubles. Further, maintenance was scheduled to take place at ethylene facilities in Japan and South Korea from September. For these reasons, supply was tight. On the other hand, Taiwan's Formosa Petrochemical (FPCC) and South Korea's Hanwha TotalEnergies conduced sell tenders.

The Asia propylene market strengthened.

In the CFR Northeast Asia market, there was spot demand for delivery to Taiwan and Japan and market sentiments were strong. In Taiwan, the restart of CPC's residue fluid catalytic cracker (RFCC) was postponed and supply for propylene was in shortage. In Japan, several naphtha crackers were shut down due to troubles and supply was tight.

In South Korea, two petrochemical makers sold spot cargoes loading September.

In the Asia butadiene market, a wait-and-see mood was strong.

In the CFR Northeast Asia market, end-users were not in a rush to buy since supply for September delivery was not perceived to be tight. Sellers were also not aggressive for sales. As a result, activity was muted.

In Southeast Asia, two petrochemical makers conducted sell tenders.