Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis softened in the middle of the week along with changes in crude prices. Further, demand for downstream products was still low.

Gasoline Component

MTBE prices on an FOB China basis were unchanged. As feedstock methanol prices were bullish, sellers were not in a hurry to sell. Meanwhile, buyers were unwilling to raise buying ideas since crude prices were often bearish. In the CFR Southeast Asia market, a deal for delivery to Singapore or Malaysia in October was concluded a price linked spot quotations for gasoline.

Olefins

In the ethylene market on a CFR Northeast Asia basis, a September cargo was traded at a price linked to CFR Northeast Asia spot quotations. Trade at fixed prices was muted. The spread between ethylene and naphtha prices widened compared to that around June. End-users perceived that ethylene prices were relatively high. On the other hand, ethylene makers were still conducting production cuts and they were not in a hurry to sell.

In the Asia propylene market, China domestic prices were firm.

In the CFR Northeast Asia market, buying interest from Chinese end-users for imported cargoes was strong since China domestic prices were bullish. But supply for September onwards was seen to be tight.

In the Southeast Asia market, a Malaysian petrochemical maker sold several cargoes of propylene since its derivative polypropylene facilities were shut down due to troubles.

In the butadiene market on a CFR Northeast Asia basis, discussions for European cargoes were observed. But as buying ideas from end-users were low, the seller could not secure profit, said sources. End-users that desired to buy were apparently limited. A Taiwanese petrochemical maker sold September cargoes via a tender.

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