Aromatics

Benzene prices on an FOB Korea basis moved in a narrow range along with changes in crude prices. Since profitability of derivatives in China was low, sentiments of the benzene market were weak. CFR Northeast Asia paraxylene (PX) prices strengthened slightly, supported by a decrease in inventories in China.

Gasoline Components

MTBE prices on an FOB China basis were stable. Some makers reportedly conducted sales negotiations for delivery to Europe but the details about cargoes were unknown. Due to trade friction between China and the US, market trend of gasoline components was expected to change. In the MTBE market, situation going forward was uncertain.

Olefins

Ethylene prices on a CFR Northeast Asia basis were at a similar levels to the previous week. Since the Chinese government raised tariffs on products from US, players were paying attention to the impact on import of ethane, a petrochemical feedstock. In the second half of the week, it was heard that ethane might be exempted from the list of tariffs. But official announcement was not heard and market situation going forward was unclear.

The Asia propylene market was in a wait-and-see mood.

In the Northeast Asia market, both sellers and buyers were not in a hurry for trade since prices going forward were uncertain.

In the Southeast Asia market, a Malaysian petrochemical maker sold a cargo loading second-half April via a tender.

Butadiene prices on a CFR Northeast Asia basis softened. In the Northeast Asia market, demand was weak in general. In China, domestic prices were bearish and end-users were unlikely to show buying interest for imported cargoes unless the prices were lower than domestic prices. Meanwhile, there were few available cargoes of butadiene and vessel supply was said to be in surplus. In trade this week, a Malaysian cargo was reportedly traded for delivery to China.