Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis strengthened in the middle of the week but after that, these prices softened along with changes in prices for benchmark feedstock crude oil and naphtha. For PX, low demand of derivative PTA and downstream products was also a bearish factor.

Gasoline Component

MTBE prices on an FOB China basis increased slightly as demand was firm. In China, demand as a gasoline component was rising since National Day holidays were approaching. Inquiries were also seen for delivery to Southeast Asia. Discussions took place at $640-650/mt.

Olefins

Ethylene prices on a CFR Northeast Asia basis were stable. US cargoes were traded for delivery to Northeast Asia. Major end-users apparently finished procurement of October cargoes. As for facilities, Taiwan's Formosa Petrochemical (FPCC) shut down its No. 1 ethylene facility to adjust production volumes.

Propylene prices on a CFR Northeast Asia basis softened as demand receded. In China, turnaround of propylene facilities was over and production resumed. Meanwhile, derivative facilities entered turnaround and supply/demand was perceived to be slack. Under this situation, buying interest for imported cargoes was weak.

Butadiene prices on a CFR Northeast Asia basis softened. Cargoes from outside Asia and those from Southeast Asia were supplied to Northeast Asia. Supply was seen to be ample. Further, buying interest from Northeast Asian end-users was receding.

In the Southeast Asia market, a Vietnamese petrochemical maker reportedly sold October loading cargoes.

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