Aromatics

Benzene prices on an FOB Korea basis increased in the middle of the week due to a rise in crude prices. Paraxylene (PX) prices on a CFR Northeast Asia basis were bearish in the first half of the week as purified terephthalic acid (PTA) futures prices on the Zhengzhou Commodity Exchange fell. In addition to this, a large-scale PX facility in China restarted after maintenance and supply was more ample.

Olefins

In the Northeast Asia ethylene market, discussions at fixed prices were muted. In trade related to market quotations, deals for delivery to China in February were reported at a premium in the low $10's/mt to CFR Northeast Asia spot quotations. As for facilities in Taiwan, CPC's No.4 naphtha cracker restarted after maintenance.

In the Asia propylene market, activity was muted in general.

In the CFR Northeast Asia market, buying interest from end-users was weak while sellers were also not in a hurry for sales. As a result, trade was thin.

In the Asia butadiene market, prices were bullish. There were few available cargoes while demand for delivery to South Korea was strong and supply/demand was tight. Under this situation, market sentiments strengthened.