Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis increased further since crude prices strengthened due to the intensifying conflict between Israel and Iran. There were views that production of petrochemical products might decrease in these countries and this also supported the market.

Olefins

Ethylene prices on a CFR Northeast Asia basis continued to rise. As export of ethane from the US to China was disrupted, production of ethylene in China might be affected. Because of this, market sentiments strengthened. Further, buying interest for ethylene was also boosted along with the startup of new derivative facilities in China.

The Asia propylene market strengthened due to a rise in crude prices.

In the CFR Northeast Asia market, sentiments were firm as crude prices were bullish although buying interest was not strong.

In the Southeast Asia market, players were paying attention to the restart of Pengerang Refining and Petrochemical (PRefChem)'s naphtha cracker and the startup of Lotte Chemical Indonesia (LCI)'s naphtha cracker.

In the Asia butadiene market, a cargo sold by a Thai petrochemical maker for late June loading was resold to China. In Southeast Asia, a Malaysian petrochemical maker might restart operations of its naphtha cracker and it might also restart supply of butadiene soon.

In the China domestic market, prices for butadiene and synthetic rubber strengthened due to a recent increase in crude prices.

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