Aromatics

Benzene prices on an FOB Korea basis were bullish. A rise in futures prices for benzene in China and consumption of ethylbenzene as a gasoline component in the US supported the market. Paraxylene prices on a CFR Northeast Asia basis changed in a narrow range.

Olefins

Ethylene prices on a CFR Northeast Asia basis decreased slightly. US cargoes were traded for delivery to China and perceptions of ample supply were strong. Meanwhile, South Korean ethylene makers were considering enhancing production cuts. Supply for Asian cargoes might be reduced. However, in China, BASF's new ethylene facility was scheduled to start up. Supply/demand balance going forward was uncertain.

The Asia propylene market softened.

In the CFR Northeast Asia market, buying interest for imported cargoes receded as China domestic prices were bearish.

In the Southeast Asia market, some petrochemical makers reduced production of polypropylene and sold propylene on a spot basis. Under this situation, perceptions of tight supply eased.

In the Asia butadiene market, prices did not change sharply. In trade of US cargoes, a Chinese end-user reportedly bought a cargo to be delivered in January. On the other hand, since several South Korean petrochemical makers were planning to reduce operation rates of naphtha crackers in December onwards. Therefore, views were heard that perception of ample supply might be receding slightly.

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