[Aromatics]

Benzene prices on an FOB Korea basis increased from the previous week due to strength in derivative styrene monomer prices. Paraxylene (PX) prices on a CFR Northeast Asia basis moved in a narrow range.

[Olefins]

Ethylene prices on a CFR Northeast Asia basis softened slightly. In the middle of the week, a cargo to be delivered to China in March was reportedly traded at $690/mt. In March onwards, perceptions of ample supply might recede due to turnaround in Japan and South Korea. But prices had not rebounded as of now.

Propylene prices in Asia strengthened.

In the CFR Northeast Asia market, sentiments were strong as supply was tight.

On an FOB Korea basis, a petrochemical maker conducted a sell tender for March loading. The tender was awarded at $780-785/mt.

In the Southeast Asia market, a Malaysian petrochemical maker conducted a sell tender for refrigerated cargo. This cargo was reportedly resold to China.

Butadiene prices on a CFR Northeast Asia basis softened. Due to a previous rise in the market, prices were perceived to be high and buying interest from end-users receded. Further, as Lunar New Year holidays were approaching, some end-users retreated to the sidelines. In the middle of the week, futures prices for synthetic rubber in China fell sharply and this was also a reason why market sentiments weakened.

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