Aromatics

Benzene prices on an FOB Korea basis increased in the first half of week but the market softened slightly after that along with changes in crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis were bullish. PX makers were conducting production adjustment. Due to economic sanctions from the US against Russian crude tankers, petroleum product prices in China were increasing and this was also a supporting factor.

Olefins

In the ethylene market on a CFR Northeast Asia basis, trade was muted. Ethylene makers had limited cargoes for sale due to regular maintenance and production cuts at ethylene facilities. Further, as derivative makers could not secure profitability, they were not aggressive in buying.

In Southeast Asia, Malaysia's Pengerang Refining and Petrochemical (PRefChem) sold two cargoes via tenders. Its derivative facilities might be experiencing troubles.

In the Asia propylene market, supply was perceived to be tight.

In the CFR Northeast Asia market, supply was tight as facility maintenance was taking place and troubles were occurring one after another. Under this situation, the market increased slightly.

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

Butadiene prices on a CFR Northeast Aisa basis increased further since supply was perceived to be tight especially in South Korea. Specific deals were not heard on a CFR Northeast Asia basis but possible deal levels increased along with a recent deal on an FOB China basis and firmness in China domestic prices. But some petrochemical makers in Taiwan and South Korea apparently had available cargoes.

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