Aromatics

Benzene prices on an FOB Korea basis increased at the beginning of week but after that, prices dropped. Paraxylene (PX) prices on a CFR Northeast Asia basis were bearish throughout the week. Softening US gasoline prices and low demand of derivatives pressured the market.

Olefins

Ethylene prices on a CFR Northeast Asia basis increased slightly since prices on a CFR Southeast Asia basis were relatively high and selling interest to Northeast Asia was scarce. On an FOB Northeast Asia basis, a deal at a high price was observed in the previous week but the traded cargo was apparently brought to Southeast Asia.

In the Asia propylene market, activity was muted in general.

In the CFR Northeast Asia market, buying interest from Chinese end-users was receding and market sentiments were weak.

In China, a new propane dehydrogenation (PDH) facility started up while PDH facilities that had been shut down were restarting. Supply for domestic cargoes became ample.

In Southeast Asia, a Malaysian petrochemical maker conducted sell tenders for prompt cargoes.

In the Asia butadiene market, fresh deals were not heard.

In the CFR Northeast Asia market, buying interest from end-users was not strong while sellers were also not in a hurry for sales. As a result, movements were thin.

On an FOB Korea basis, a petrochemical maker conducted a sell tender for September loading.

In Southeast Asia, a petrochemical maker sold September loading cargoes via a tender.

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