Aromatics

Benzene prices on an FOB Korea basis fell sharply in the middle of the week mainly because of a decrease in crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis also decreased sharply due to a fall in crude prices. Concerns about global recession and the end of gasoline demand season were also cited as bearish factors.

Olefins

In the CFR Northeast Asia market, discussions for October cargoes began. But as the spread between buyers' and sellers' ideas was wide, discussions were hardly making progress. As benchmark feedstock crude prices fell sharply in the middle of the week, end-users were taking a wait-and-see attitude. On an FOB Korea basis, ethylene makers were showing selling interest for October cargoes and deals were done at prices linked to market quotations.

The Asia propylene market was bearish since crude prices fell sharply.

In the CFR Northeast Asia market, buyers' ideas decreased due to a fall in crude prices. On the other hand, sellers wanted to discuss at prices linked to market quotations as market directions going forward were unclear.

In the Southeast Asia market, several naphtha crackers restarted operations and supply was perceived to be ample. Under this situation, two petrochemical makers conducted sell tenders for prompt cargoes.

The Asia butadiene market was in a wait-and-see mood in general.

In the CFR Northeast Asia market, several end-users almost finished buying October delivery cargoes and buying interest for spot cargoes was scarce.

In the Southeast Asia market, two petrochemical makers conducted sell tenders for October loading.

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