Aromatics

Aromatic prices strengthened slightly, supported by buying interest to fulfill demand for the time being after Lunar New Year holidays. But market sentiments were seen to be weak and the rise in prices was limited.

Olefins

Ethylene prices on a CFR Northeast Asia basis were stable. Although holidays in China were over, end-users were not willing to buy in a rush. On an FOB Korea basis, an ethylene maker conducted a sell tender. South Korean cargoes loading in March seemed to be limited due to facility maintenance. In Malaysia, a petrochemical maker's ethylene facility was shut down on Feb 3 due to troubles.

In the Northeast Asia propylene market, discussions were muted throughout the week as China was on holidays until the first half of the week. In Southeast Asia, Pengerang Refining and Petrochemical (PRefChem)'s naphtha cracker and residue fluid catalytic cracker (RFCC) in Malaysia were shut down. As a result, supply for propylene was tightening.

The Asia butadiene market strengthened owing to tight supply along with facility maintenance. In talks for cargoes from outside Asia, sales of cargoes from the US and Europe to South Korea were observed. In China, new butadiene facilities were operating smoothly and supply for domestic cargoes was ample at this moment.

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