Aromatics

Benzene prices on an FOB China basis and paraxylene (PX) prices on a CFR Northeast Asia basis were firm due to an increase in futures prices for related products in China. Owing to the Chinese government's economic policies, it was easier for funds to flow in and expectations emerged that the supply/demand balance might improve.

Olefins

Ethylene prices on a CFR Northeast Asia basis were stable. Since export of ethane from the US to China resumed, supply of ethylene from ethane crackers in China was expected to increase. Therefore, buying interest for imported cargoes was weak.

Propylene prices on a CFR Northeast Asia basis increased slightly. As propylene was listed on the Zhengzhou Commodity Exchange, there were expectations that trade might be activated. Futures prices for propylene strengthened and this was cited as a bullish factor. For loading from Southeast Asia, a maker issued sell tenders for three cargoes loading in August.

In the butadiene market on a CFR Northeast Asia basis, both sellers and offers were not in a rush for trade and discussions were muted. In China, futures prices for synthetic rubber were firm and views were heard there might be moves to buy imported cargoes of butadiene going forward. But as of now, actual demand was not appearing.

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