[Aromatics]

Benzene prices on an FOB Korea basis were still at high levels along with changes in benchmark feedstock crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis fell sharply in the middle of the week. As demand for downstream products was weak, the PX market was pushed down.

[Olefins]

Ethylene prices on a CFR Northeast Asia basis were stable. In the first half of the week, the US and Iran agreed on cease-fire and prices for crude oil and naphtha softened. Along with this, buyers took a wait-and-see stance. However, it was still difficult to go through the strait of Hormuz and sellers were unlikely to reduce offers.

In the propylene market on a CFR Northeast Asia basis, buy tenders took place for delivery to China and Taiwan. The tender for delivery to China was not awarded. The buyer wanted to observe the market situation since crude prices were volatile. For delivery to Southeast Asia, selling interest was seen. But as the gap between buyers' and sellers ideas was wide, firm discussions did not take place.

In the Asia butadiene market, sentiments weakened. A previous rise in butadiene prices had not been passed on to prices of derivatives completely and operation rates of some derivative facilities were decreasing. Under this situation, supply/demand of butadiene slackened slightly. In the middle of the week, it was reported that the US and Iran agreed on cease-fire. Players wanted to check the situation going forward and a wait-and-see mood was strong.

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