Aromatics

　 Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast basis remained at high levels as benchmark feedstock crude prices were bullish due to geopolitical reasons. Meanwhlie, profitability of downstream products decreased due to a rise in benzene and PX prices. Therefore, demand for these products was not strong.

Olefins

　 Ethylene prices on a CFR Northeast Asia basis softened slightly from the previous week. Derivative ethylene glycol (EG) prices, that had previously supported the ethylene market, softened and this was a bearish factor. Profitability of ethylene worsened owing to high feedstock costs. For this reason, ethylene prices might be hitting the bottom. In the first half of the week, a regional cargo for delivery to Northeast Asia in November was concluded in the mid-$1,100's/mt, and a US cargo for delivery to Northeast Asia in December was concluded in the high $1,000's/mt.

　 Propylene prices in Asia strengthened across the board. In the Northeast Asia market, sentiments were strong since China domestic prices increased after National Day holidays and buying interest from the country emerged. In South Korea, several petrochemical makers sold spot cargoes for November loading in the week. In Taiwan, Formosa Petrochemical sold more than 20,000mt for November loading via a tender. In the Southeast Asia market, a Thai maker conducted a sell tender.

　 In the Asia butadiene market, CFR Northeast Asia prices increased as China domestic prices strengthened after National Day holidays. Buying interest was seen from Chinese and South Korean end-users. In Southeast Asia, Malaysian and Singaporean petrochemical makers reportedly sold November loading cargoes.

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