Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis strengthened in the first half of the week along with a rise in benchmark feedstock crude prices. After that, prices softened slightly. As maintenance of PX and purified terephthalic acid (PTA) facilities were scheduled to take place, supply might be tight and the market might be supported. But since operation adjustment was currently ongoing at many PX and PTA facilities, even if PX prices strengthened, makers could increase production and PX prices might not rise sharply.

Olefins

Ethylene prices on a CFR Northeast Asia basis increased. In Taiwan, as the restart of CPC's No.3 naphtha cracker was postponed to Apr 1, ethylene was seen to be in shortage. For this reason, possible deal levels were perceived to have increased.

In the propylene market on a CFR Northeast Asia basis, discussions were muted. In China, as supply for domestic cargoes was ample and prices for imported cargoes were seen to be relatively high, buying interest was scarce. On the other hand, sellers had few cargoes and they were not in a hurry for sales.

Butadiene prices on a CFR Northeast Asia basis were still firm. Since maintenance of butadiene facilities were taking place one after another along with naphtha crackers in Northeast Asia and Southeast Asia, supply was tight and the market was pushed up. Negotiations were ongoing for European cargoes loading second-half April for delivery to Asia. For crude-C4, a cargo loading from China in April was traded for delivery to South Korea. Buyers were still actively covering the shortage of butadiene.

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