Aromatics

Benzene prices on an FOB Korea basis moved in a narrow range. Prices softened briefly in the middle of the week along with crude prices but the market recovered slightly after that. Paraxylene (PX) prices on a CFR Northeast Asia basis lacked upward momentum since demand for downstream polyester products was dull. In China, it is usually the demand season for fiber industry from September to October. There were expectations that demand for polyester fiber might strengthen to produce products for fall and winter.

Olefins

In the Northeast Asia ethylene market, discussions for September cargoes were already over and activity was muted. In Japan, a part of naphtha crackers that had been shut down due to troubles restarted and supply tightness was receding. In China, Chengzhi's methanol-to-olefins (MTO) facility restated by the previous week and demand from the region along the Yangtze River was expected to weaken.

The Asia propylene market strengthened slightly.

In the Northeast Asia market, buying interest for delivery to China was strong since Shandong prices in China were bullish this week. But since demand for derivatives was weak, the rise in the market was limited.

On an FOB Korea basis, a petrochemical maker conducted a sell tender for October loading.

In the Southeast Asia market, propylene facilities that had been shut down due to troubles and maintenance restarted and supply was ample.

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

In the Northeast Asia market, a Vietnamese cargo was reportedly traded for delivery to China. Meanwhile, several end-users were not in a rush to buy since supply was ample.

In the Southeast Asia market, several naphtha crackers restarted and supply for butadiene was increasing.

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