(Aramatics)
Benzene prices on an FOB Korea basis and Paraxylene (PX) prices on a CFR Northeast Asia basis were seen softening in the early part of the week but rebounded in the latter half. This was prompted by a rise in crude oil and naphtha prices, which serve as indicators for feedstock costs.
　
(Oleffins)
Ethylene prices on a CFR Northeast Asia basis lacked upward momentum. Despite rising crude oil and naphtha prices, which are indicators for feedstock costs, and limited offers, which are considered strong factors, the continued unprofitable situation for derivatives capped the upward potential of prices. US-origin cargoes were reportedly offered to Asia, but no deals were heard.
　
In the Asia propylene market, CFR Southeast Asia prices rose due to tight supply/demand. In the CFR Northeast Asia market, propylene prices were on a downward trend following a significant drop in crude oil prices until the first half of the week. However, prices strengthened from mid-week, boosted by a rebound in crude oil prices and tight supply. In the CFR Southeast Asia market, amid strong supply/demand tightness, market sentiments strengthened, with deals concluded to Thailand at $1,200/mt, for instance.
　
Butadiene prices on a CFR Northeast Asia basis turned bearish. This was primarily due to weak demand. With crude oil and naphtha, which are indicators for feedstock costs, fluctuating wildly, end-users were reluctant to make aggressive purchases. Furthermore, the downward trend in natural rubber futures on the Shanghai Futures Exchange in China was also seen as a bearish factor. Although natural rubber production was in its peak season, tires, a primary application for rubber, were entering a period of low demand. In the Southeast Asia market, one manufacturer sold mid-August loading and end-August loading cargoes respectively.