Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis were firm until the middle of the week owing to strength in benchmark feedstock crude prices. Further, in China, futures prices for styrene monomer, PX and purified terephthalic acid (PTA) were bottoming out and this supported the market.

Olefins

In the ethylene market in Northeast Asia, spot discussions were muted. Since demand for derivatives was weak while profitability of ethylene against naphtha was falling, both buyers and sellers were not aggressive for trade. In China, a new ethylene facility was expected to start up soon.

In the Asia propylene market, activity was muted in general.

In the CFR Northeast Asia market, spot demand was seen from China but buyers were not in a rush and they were unwilling to raise ideas. On the other hand, sellers were taking a bullish attitude due to high procurement costs. Under this situation, deals were not heard and the market was in a wait-and-see mood.

On an FOB basis, Taiwan's Formosa Petrochemical conducted a sell tender for November loading.

The Asia butadiene market was bearish.

In the Northeast Asia market, there were many cargoes from outside the region and supply was perceived to be ample. On the other hand, buying interest from end-users was scarce as futures prices for synthetic rubber in China softened. Under this situation, supply/demand was perceived to be slack.

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

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