Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis moved in a narrow range. As maintenance of refineries was completed, production of aromatic products was recovering. On the other hand, as demand for both benzene and PX was firm, the supply/demand balance was not changing that much.

Olefins

In the ethylene market on a CFR Northeast Asia basis, discussions for August cargoes were still not at full swing and trade was muted. As for facilities, Taiwan's Formosa Petrochemical (FPCC) would reportedly shut down its No.2 naphtha cracker from the begging of August. In addition, its No.1 naphtha cracker was shut down for maintenance from May 22 until first-half September. But since its derivative facilities would be also shut down or operations would be adjusted at the same time, supply/demand for ethylene was unlikely to tighten.

In the Asia propylene market, trade was muted.

In Northeast Asia, trade was thin as available cargoes were limited.

In Southeast Asia, troubles occurred at propylene facilities one after another and supply was tight. Meanwhile, there were moves to buy since several derivative facilities would restart. As a result, supply/demand was tight.

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

In Northeast Asia, end-users were not in a rush to buy as they wanted to check market directions going forward. Meanwhile, sellers had few cargoes and they were also not in a hurry for trade.

In Southeast Asia, two petrochemical makers conducted sell tenders.

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