Aromatics

Benzene prices on an FOB Korea basis were at high levels. But prices briefly softened in the middle of the week as demand was not strong. Paraxylene (PX) prices on a CFR Northeast Asia basis were bearish. Market sentiments worsened as demand for polyester after Lunar New Year holidays was lower than expected.

In the Northeast Asia ethylene market, trade was muted. Since ethylene prices were perceived to be relatively high against derivative prices, buying interest for ethylene was not strong. Meanwhile, as benchmark feedstock naphtha prices were firm and supply was tight, sellers were unlikely to sell at low prices.

In the Asia propylene market, activity was thin.

In the Northeast Asia market, buying interest from end-users was scarce as China domestic prices softened after Lunar New Year holidays. On the other hand, sellers were not in a hurry for sales as they had few spot cargoes.

In the Southeast Asa market, buying interest was receding as end-users already secured a part of necessary volumes.

In the Asia butadiene market, prices were still firm.

In the Northeast Asia market, buying interest from South Korean end-users was strong while supply was limited. Therefore, supply/demand was tight. Under this situation, Chinese cargoes were traded at high prices for delivery to South Korea.

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