Aromatics

Benzene prices on an FOB Kora basis and paraxylene (PX) prices on a CFR Northeast Asia basis strengthened at the beginning of the week due to supply concerns caused by a fire that broke out at a refinery in South Korea at the end of the previous week. After that, views emerged that the impact from the fire on production was scarce and these prices decreased again.

Olefins

In the ethylene market in Northeast Asia, discussions were muted. In South Korea, several petrochemical makers seemed to be increasing operation rates of ethylene facilities from March as profitability of ethylene was recovering recently. CFR Southeast Asia ethylene prices increased since supply in the region was limited. A deal for second-half March delivery was reported at $1,070/mt.

In the propylene market in Asia, a wait-and-see mood was strong.

In the CFR Northeast Asia market, buying interest from end-users was scarce while sellers were also not in a rush to sell since they had few spot cargoes.

In South Korea, a fire broke out at S-Oil's refinery at the end of the previous week. Its residual fluid catalytic cracker (RFCC) was shut down but the facility reportedly restarted as of now.

Butadiene prices in Asia strengthened further.

In the Northeast Asia market, buying interest from South Korean end-users was strong while available cargoes were limited. Therefore, supply/demand was perceived to be tight.

In the Southeast Asia market, Thailand's PTTGC issued a sell tender for a cargo loading at the end of March.

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