Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis decreased at the beginning of the week. But these prices increased slightly after that. The market mainly moved along with changes in crude prices. In China, a new styrene monomer (SM) facility was scheduled to start up and this was also a supporting factor for the benzene market.

Gasoline Component

MTBE prices on an FOB China basis were bearish. In the Southeast Asia market, a destination of export, inflow of gasoline was increasing and demand for MTBE that was used as a gasoline component was weak. Export of MTBE to area around Singapore was not profitable.

Olefins

In the ethylene market on a CFR Northeast Asia basis, discussions for September cargoes had yet to take place in full swing and movements were scarce. In importing countries such as China and Indonesia, domestic production of ethylene was increasing. In Japan, an ethylene facility was unexpectedly shut down.

In the Asia propylene market, available cargoes were seen from Southeast Asia.

In the CFR Northeast Asia market, demand was dull and buying interest was scarce. Meanwhile, sellers were also not in a rush for sales.

In the Southeast Asia market, a Malaysian petrochemical maker conducted sell tenders for spot cargoes.

Butadiene prices on a CFR Northeast Asia basis were slightly bearish. Since China domestic prices softened, buying interest for imported cargoes was weak. On an FOB basis, a Taiwanese petrochemical maker reportedly had an available cargo. In Southeast Asia, an Indonesian maker sold a cargo loading late August.

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