Aromatics

Benzene prices on an FOB Korea and paraxylene (PX) prices on a CFR Northeast Asia basis fell in the second-half of the week. The US announced reciprocal tariffs on imported goods. Further, crude prices decreased since OPEC Plus agreed to reduce production cuts. For these reasons, the aromatic market was pressured.

Olefins

In the CFR Northeast Asia ethylene market, spot trade was muted. As new ethylene facilities were in the midst of starting up in China, end-users wanted to check operations of these facilities to foresee supply/demand balance of May cargoes. China's Wanhua Chemical reportedly confirmed on-spec production of ethylene at its new naphtha cracker.

In the Asia propylene market, activity was muted.

In the CFR Northeast Asia market, the spread between bids and offers was wide and it was difficult for deals to be concluded.

In the Southeast Asia market, several olefin facilities were shut down due to worsening profitability and supply for propylene was perceived to be tight.

Butadiene prices on a CFR Northeast Asia basis softened due to receding buying interest. In China and Taiwan, buying interest for imported cargoes was weak since supply for domestic cargoes was ample. In trade on a CFR Northeast Aisa basis, a deal was reportedly done at $1,350/mt although the details were not clear. Further, it was also reported that a South Korean cargo was traded for delivery to Japan.