Aromatics
Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis remained soft throughout the week. This reflected weak crude oil prices, which is benchmark of feedstock costs. In the Benzene market, while a recovery in supply from China exerted downward pressure, buying inquiries emerged along with recent low prices. Therefore, there was possibility that the downslide might be limited.

Olefins
In Northeast Asia, the ethylene market was quiet. Three naphtha crackers were suspended due to unplanned reasons in Japan. Because of this, ample supply was eased and no cargoes seemed to be available. However, since end-users had scarce buying interest and players did not rush into procurement owing to supply concerns.

In Asia, the propylene market was overall quiet.
In Northeast Asia, with availability limited, bids and offers were thin. But propane dehydrogenation (PDH) plants, which had been halted for a long time, were gradually restarting production in China. Thus, supply would likely rise going forward. In this situation, buying interests in import cargoes were receding among Chinese end-users.
For loading in Taiwan, Formosa Petrochemicals Corp (FPCC) had carried out a sell tender for August loading but eventually cancelled it.

In the Asia butadiene market, a wait-and-see mood was strong.
In the butadiene market in Northeast Asia, talks were mainly conduced for September delivery at the moment. However, as it was too early, neither buyers nor sellers were in a rush for trading.
In Southeast Asia, a Malaysian petrochemical maker conducted a sell tender for August loading.

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