Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis decreased sharply from the previous week owing to a fall in crude prices in the week. For PX, Chinese makers were still adjusting production.

Gasoline Component

MTBE prices on an FOB China basis decreased slightly due to softening crude prices. In Singapore, the value as a gasoline component was falling. In trade of MTBE for delivery to Singapore, a deal was reported at flat to 92RON gasoline quotations.

Olefins

In the ethylene market on a CFR Northeast Asia basis, both bullish and bearish factors were observed. Supply for ethane and methanol, feedstocks of ethylene, was still limited. For this reason, there were concerns about production of ethylene in China. On the other hand, as benchmark feedstock crude and naphtha prices decreased, end-users were expecting that ethylene prices might soften.

Propylene prices on a CFR Northeast Asia basis strengthened at the beginning of the week but the market fell again in the second half of the week mainly due to changes in crude prices. But the fall in prices was limited since when the conflict between Israel and Iran had been tense, a rise in propylene prices had been slower than that in crude prices. In the second half of the week, buying ideas were heard at $790/mt and selling ideas were at $810/mt.

In the butadiene market on a CFR Northeast Asia basis, buying interest was not strong in general. A Taiwanese petrochemical maker sold a July loading cargo via a tender.

In Southeast Asia, petrochemical makers in Malaysia and Indonesia showed selling interest for butadiene loading early July. Along with the startup of naphtha crackers and butadiene facilities, available cargoes appeared.

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