Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis were firm. The benzene market was supported by an increase in benzene futures prices in China since monetary policy was expected to ease. The PX market was boosted by firm demand in the downstream market.

Olefins

In the Northeast Asia ethylene market, spot discussions were muted as term negotiations for 2026 were still taking place. But it was reported in the second half of the week that a South Korean ethylene maker concluded a term supply contract, negotiations on an FOB basis and on a CFR basis might progress going forward. In the Southeast Asia market, a Malaysian petrochemical maker closed a sell tender on Dec 18 for 5,000mt loading Jan 16-17.

In the Asia propylene market, discussions were mainly taking place for term contracts for 2026 and spot trade was muted.

On an FOB Korea basis, a petrochemical maker conducted sell tenders for four cargoes loading in January.

In Taiwan, a petrochemical maker conducted a sell tender for 17,000mt loading in January.

In the Southeast Asia market, fresh discussions were not seen.

In the China domestic market, Zhejiang Petrochemical conducted a sell tender for January loading.

Butadiene prices in Asia strengthened. In the CFR Northeast Asia market, as supply for delivery in January onwards was tight, possible deal levels were perceived to have increased although specific deals were not heard. For loading from China, a deal was reportedly concluded at a price above $900/mt on an FOB basis. Since a trader bought this cargo to cover the short position, the deal was done at a relatively high price, said market sources.

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