[Aromatics]

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis were firm in the first half of the week along with changes in benchmark feedstock crude prices. However, in the second half of the week, prices for benzene and PX were weighed down owing to sales for liquidation of long positions on the commodity exchanges before holidays in China.

[Olefins]

Ethylene prices on a CFR Northeast Asia basis were stable. As several countries in Northeast Asia and Southeast Asia would be on Lunar New Year holidays soon, discussions were inactive. Benchmark feedstock naphtha prices were firm. On the other hand, ethylene prices were bearish and profitability worsened further. Under this situation, petrochemical makers in South Korea and Southeast Asia reportedly decided to decrease production further.

The Asia propylene market was in a holiday mood.

In the Northeast Asia market, trade was thin in general as it was before Lunar New Year. On an FOB Korea basis, a petrochemical maker conducted a sell tender for March loading.

In Southeast Asia, one of two residue fluid catalytic crackers (RFCC) owned by Malaysia's Pengerang Refining and Petrochemical (PRefChem) was shut down due to troubles. In addition, its naphtha cracker was operating at low rates.

In the butadiene market on a CFR Northeast Asia basis, many players already concluded trade before Lunar New Year. Sellers were not aggressive for sales since availability of spot cargoes was limited. Selling ideas were heard above $1,300/mt. In Southeast Asia, a petrochemical maker sold a March cargo on an FOB basis by the end of the previous week.

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