Aromatics

　 Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis sharply strengthened in the first half of the week, reflecting a surge in crude oil prices amid rising tensions in the Middle East. However, as crude oil prices softened later in the week, benzene and PX prices slightly fell back.

Olefins

　 Ethylene prices on a CFR Northeast Asia basis inched up slightly, reflecting an increase in benchmark feedstock crude oil and naphtha prices. However, demand remained sluggish, especially for major derivative polyvinyl chloride (PVC), with no signs of a sharp surge in ethylene prices. In the Southeast Asian market, although Malaysia's Pengerang Refining and Petrochemical (PRefChem) restarted operations at its naphtha cracker, it reportedly faced delays in restarting derivative facilities, leading to an ethylene surplus.

　 The Asia propylene market strengthened, bolstered by a rise in crude oil prices. In the Northeast Asia market, China domestic prices firmed in the wake of rising crude oil prices amid escalating tensions between the US and Iran. Consequently, buying interest for China was strengthening. Meanwhile, South Korea's and Taiwan's petrochemical makers issued sell tenders. In the Southeast Asia market, one Malaysian petrochemical maker had spot offerings.

　 In the CFR Northeast Asia butadiene market, demand remained sluggish, with no buying interest observed from Taiwanese and South Korean end-users. It was heard that butadiene manufacturers in these countries might move to export their product. Additionally, as a Malaysian cargo was concluded for China delivery, supply was perceived to be ample. On the other hand, it was also reported that an increase in crude oil and naphtha prices from mid-week onward could become a bullish factor.