Aromatics

Benzene prices on an FOB Korea basis and paraxylene (PX) prices on a CFR Northeast Asia basis increased sharply at the beginning of the week due to a surge in crude prices. After that, benzene and PX prices decreased again since prices for petrochemical products in China were bearish after National Day holidays.

Olefins

Ethylene prices in the Northeast Asia market decreased slightly due to weak demand. Buying ideas from end-users reportedly fell to the low $800's/mt. However, on the supply side, South Korean ethylene makers reduced operations from October. In Southeast Asia, it was reported that Vietnam's Long Son Petrochemicals (LSP) might shut down operations of its complex from second-half October for economic reasons.

The Asia propylene market strengthened slightly.

In the Northeast Asia market, sellers were taking a bullish attitude as crude prices were higher than China's National Day holidays. In Taiwan, several propylene facilities were shut down due to troubles and spot demand appeared from the country. As a result, market sentiments strengthened.

In South Korea, two petrochemical makers conducted sell tenders for November loading.

In Southeast Asia, a Malaysian petrochemical maker conducted a sell tender for prompt cargoes.

In the Asia butadiene market, trade was muted.

In the Northeast Asia market, Chinese end-users were not aggressive for buying and discussions were thin. Discussions were shifting to November delivery but end-users reckoned that prices might decrease going forward and they were not in a rush for buying.

In the Southeast Asia market, a petrochemical maker in the Philippines conducted a sell tender for November loading.