Aromatics

The FOB Korea benzene market was at higher levels than the previous week, supported by strong sentiments of styrene monomer futures on the Dalian Commodity Exchange in China. The CFR Northeast Asia paraxylene market softened owing to weak demand.

Olefins

The CFR Northeast Asia ethylene market increased slightly from the previous week since some derivative makers' inventories decreased and buying interest strengthened. In China, pilots for vessels operating along the Yangtze River were in shortage and delivery of imported cargoes was delayed. In the first half of the week, deals were heard at $1,135/mt for delivery to Northeast Asia and $1,145/mt for delivery to China.

In the Asia propylene market, a wait-and-see mood was strong as both buyers and sellers showed no hurry to engage in trade before the National Day holidays in China. Further, available cargoes were limited due to a shortage of propylene vessels. On the demand side, derivative facilities in China were operating at low rates as power use was restricted due to energy conservation policies. Therefore, buying interest for propylene was thin.

In the Asia butadiene market, supply was perceived to be ample. In Northeast Asia, many end-users had finished buying necessary cargoes until November and spot demand was weak. On the other hand, many makers in Korea and Southeast Asia had high butadiene stocks and faced selling pressure. As a result, market sentiment was bearish.