Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis fell sharply in the first half of the week due to a decrease in benchmark feedstock crude prices. Market sentiments also worsened due to additional tariffs from the US. There were concerns that shipment of downstream products might be dull due to trade frictions between the US and China. In the second half of the week, benzene and PX prices increased slightly since crude prices bottomed out.

Olefins

Ethylene prices on a CFR Northeast Asia basis decreased slightly as benchmark feedstock crude and naphtha prices softened. In addition, new ethylene facilities and derivative facilities were expected to start up in China and other countries. Under this situation, derivative makers refrain from buying as they wanted to check the market situation going forward.

In the Asia propylene market, a wait-and-see mood was strong.

In the CFR Northeast Asia market, there were few available cargoes and sellers were not in a hurry for sales. On the other hand, supply for domestic cargoes was ample and buying interest for imported cargoes was scarce. As a result, the market was in a wait-and-see mood.

In the Southeast Asia market, several propylene facilities were still shut down and supply was tight.

Butadiene prices on a CFR Northeast Asia basis softened as many end-users finished buying for April delivery and demand was receding. As for supply, there were apparently Middle Eastern cargoes for sale for April delivery but it was uncertain whether these cargoes were already traded.

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