Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis moved in a narrow range. There were few factors that might change prices on the supply/demand side. Prices mainly changed along with benchmark feedstock crude and naphtha prices and futures prices for petrochemical products in China.

Olefins

In the ethylene market on a CFR Northeast Asia basis, spot trade was muted. Prices did not show sharp changes. Players started negotiations for term contracts for 2026. A South Korean maker issued a sell tender this week. The ender would be closed on Dec 1.

In the Asia propylene market, supply was perceived to be tight.

In the CFR Northeast Asia market, supply for imported cargoes was tight as several petrochemical makers in South Korea and Japan were adjusting operation rates of naphtha crackers. In the China domestic market, available cargoes were also limited and buying interest from Chinese end-users was strong. Under this situation, market sentiments strengthened.

In the Northeast Asia butadiene market, a sell tender for December loading conducted by Taiwan's Formosa Petrochemical was concluded at $835/mt on an FOB basis. But the price was said to be relatively high and the background of the buyer was uncertain. Apart from this, a rumor was circulated that a cargo to be delivered to China in December was trade at $785/mt on a CFR basis but some market sources were skeptical about this deal.

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