Aromatics

Benzene prices on an FOB Korea basis strengthened in the middle of the week due to firm demand. Paraxylene (PX) prices on a CFR Northeast Asia basis were bearish. After a rise in the previous week, the market underwent downward correction. For both products, players were retreating from the market toward the start of Lunar New Year holidays and buying interest was also scarce.

Olefins

Ethylene prices on a CFR Northeast Asia basis decreased slightly. Although supply was limited, demand was scarce. Under this situation, it was easy for the market to be pushed down when available cargoes appeared. On a CFR China basis, a deal was reportedly done at $865/mt.

In the Asia propylene market, a holiday mood was strong.

In the Northeast Asia market, both sellers and buyers were not in a hurry for trade as it was right before Lunar New Year. In South Korea, maintenance of propylene facilities was expected to take place until April and supply was perceived to be tight.

In Southeast Asia, there were few bids and offers as well.

Butadiene prices on a CFR Northeast Asia basis were still bullish due to firm demand for delivery to South Korea and tightening supply. On an FOB basis, a Taiwanese petrochemical maker conducted a sell tender and this was awarded for delivery to South Korea.

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