Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis were bearish throughout the week due to a fall in crude prices. Further, since it was the winter low demand season for gasoline, supply for PX was seen to be ample.

Olefins

In the Northeast Asia ethylene market, demand was observed from Chinese petrochemical makers to use at new derivative facilities recently. But in trade during the week, ethylene prices were not pushed up. Further, in term negotiations for 2025, such makers were apparently trying to raise proportion of ethylene to buy via term contracts.

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 the Southeast Asia market, supply was tight while some end-users had not finished buying necessary cargoes. As a result, supply/demand was seen to be tight and market sentiments strengthened.

Butadiene prices in Asia were bearish since supply was perceived to be in surplus. In the Southeast Asia market, a Thai petrochemical maker reportedly sold prompt cargoes. Views were heard that troubles might have occurred at downstream facilities and this was seen to be a reason for the sales.

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