[Aromatics]

Benzene prices on an FOB Korea basis softened, reflecting the weak undertone of crude oil prices, a key indicator for feedstock costs. CFR Northeast Asia Paraxylene (PX) prices showed strength in the latter half of the week, bolstered by a rise in China's PX and purified terephthalic acid (PTA) futures prices. It was heard that the futures market was attracting buying interest on expectations that the sense of oversupply would recede amid low operating rates of China's PTA facilities.

[Olefins]

CFR Northeast Asia Ethylene prices decreased further, due to weak demand. Among derivatives, many Chinese manufacturers of polyvinyl chloride (PVC) were implementing production cuts. In addition, one major manufacturer was scheduled to conduct a turnaround in the future. Still, no signs of buying interest picking up were seen.

In Asia's propylene market, trade was muted owing to the Asian Petrochemical Industry Conference. In the CFR Northeast Asia market, while buying interest from Chinese end-users was scant, sellers were not in a hurry for sales. In the Southeast Asia market, some petrochemical manufacturers reportedly had refrigerated cargoes for sale, but firm discussions were not heard.

In the butadiene market on a CFR Northeast Asia basis, discussions for June delivery were over and trade was muted. Butadiene supply might tighten going forward, owing to trending lower operating rates of Chinese refineries and a concentration of naphtha cracker turnarounds from July to September. However, end-users were not observed to be rushing to secure future requirements.