Aromatics

Benzene prices on an FOB Korea basis softened in the second half of the week due to a fall in crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis were bearish throughout the week as purified terephthalic acid (PTA) futures prices on the Zhengzhou Commodity Exchange in China were bearish after the holidays in the country. In China, inventories of PTA were said to be rising.

Olefins

In the ethylene market on a CFR Northeast Asia basis, buying interest was scarce since demand for derivatives was weak. In South Korea, some petrochemical makers raised operating rates of ethylene facilities and room to sell was seen to be increasing.

The Asia propylene market was in a wait-and-see mood in general.

In the Northeast Asia market, sellers were not in a hurry for sales due to tight supply. On the other hand, end-users fulfilled their demand with domestic cargoes and term cargoes. Therefore, buying interest for spot cargoes was scarce.

In Southeast Asia, facility maintenance was ongoing and supply was tight as well.

In the Asia butadiene market, supply/demand was still tight.

In the Northeast Asia market, there were few available cargoes but end-suers were still showing buying interest and supply/demand was perceived to be tight. Petrochemical makers in Asia were still conducting production cuts and maintenance. In addition, available cargoes from outside the region was not seen either. For these reasons, supply was tight.

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