Aromatics

Benzene prices on an FOB Korea basis were bearish due to moves to avoid risk in the crude market and the stock market amid concerns about economic friction and political situation. Paraxylene prices on a CFR Northeast Asia basis were firm. The demand season of downstream polyesters was approaching. Meanwhile, maintenance of PX facilities would take place along with that of refineries and supply/demand of PX was expected to tighten.

Olefins

Ethylene prices on a CFR Northeast Asia basis showed no change. Supply of ethylene was limited due to operation adjustment and regular maintenance at naphtha crackers. On the other hand, many derivative makers did not have buying interest for ethylene since demand was dull and profitability was worsening. Under this situation, both sellers and buyers were not aggressive for trade.

In the Asia propylene market, CFR Southeast Asia prices strengthened on tight supply.

In the CFR Northeast Asia market, there were few available cargoes and trade was muted.

For loading from Northeast Asia, Taiwan's Formosa Petrochemical conducted a sell tender for March loading.

In the Southeast Asia market, several naphtha crackers were shut down due to worsening profitability and supply was perceived to be tight. As a result, market sentiments strengthened.

Butadiene prices on a CFR Northeast Asia basis fell sharply as end-users finished buying March cargoes and buying interest was receding. China domestic butadiene prices also decreased due to perceptions of ample supply and weak demand from derivative makers. This was also a factor pushing down the CFR Northeast Asia market.

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