[Aromatics]

Benzene prices on an FOB Korea basis continued to be at high levels. Although demand was receding due to lower operating rates of derivative facilities, prices were underpinned by limited room for decrease because of feedstock costs. Paraxylene (PX) prices on a CFR Northeast Asia basis softened. Prices were pressured by weak downstream demand. Meanwhile, operating rates at some PX facilities were reportedly reduced. Consequently, views were heard that consumption of toluene, used as a feedstock for some PX production units, was falling.

[Olefins]

Ethylene prices on a CFR Northeast Asia and CFR Southeast Asia basis saw further declines. Although operating rates at ethylene facilities were falling due to restricted feedstock naphtha, supply/demand remained slack amid weak demand. By mid-week, a deal for June delivery to Southeast Asia was heard in the $1,170's/mt.

The Asia propylene market continued to face lackluster demand. In the CFR Northeast Asia market, demand from South Korea and Taiwan was receding, resulting in a weak market tone. Amid this, a deal for China delivery was concluded at $1,170/mt. In Taiwan, CPC's No.3 naphtha cracker restarted. In China, some petrochemical makers were still trying to sell for export. In the Southeast Asia market, one petrochemical maker had spot selling capacity.

In the CFR Northeast Asia butadiene market, buying interest was seen from South Korean end-users for second-half June-July arrival. Meanwhile, some end-users currently had no need to purchase. Some buyers were reportedly taking a wait-and-see stance due to uncertainty over the Middle East situation and other factors. Another South Korean petrochemical maker conducted sales negotiations for June loading. In Southeast Asia, one maker reportedly had a prompt loading cargo for sale, but canceled the sale as buying ideas were low.

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