Day on day, the FOB Korea marker was up $26/mt, or 2.2%.
Market sources said higher US and European benzene prices fueled the positive sentiment.
Prompt benzene in the US was assessed Thursday at $1,297/mt FOB USG, shown in blue below, while European benzene was assessed at $1,341.50/mt CIF ARA, shown in green below, due to tighter pygas supply as crackers ran at low rates amid weak margins.
South Korean benzene producers were likely to send November-loading cargoes to reach the US Gulf early next year, one producer said.
"I think supply will continue to be tight in the US and prices will firm," he added. (See chart 1)
The FOB Korea toluene marker was assessed at $1,162.50/mt Friday, shown in red below, up $29.50/mt from the week before and up $6/mt from Thursday amid buy support and higher downstream benzene, outpacing the rise in crude and feedstock naphtha prices.
October ICE Brent crude futures were assessed at $113.85/barrel at 4:30 pm Singapore time (0830 GMT), up $0.62/b from last week and down $0.37/b from Thursday.
CFR Japan naphtha was assessed at $990.25/mt, up $13.30/mt from last Friday and up $2.25/mt from the day before.
The US toluene price, shown in blue below, was assessed Thursday at $1,255/mt FOB USG.
In Europe, toluene prices remained the highest globally at $1,303/mt FOB Rdam, shown in green below. (See chart 2)
Asian isomer-grade mixed xylenes jumped $26/mt day on day to close the week at a five-month high of $1,295.50/mt FOB Korea, shown in red below, and $1,310.50/mt CFR Taiwan Friday, boosted mainly by supply shortage in Europe. Both the FOB Korea and CFR Taiwan benchmarks were up $52.50/mt or 4.2% from a week earlier.
In the US Thursday, isomer-MX surged $21/mt to $1,293/mt FOB USG, shown in blue below, on the back of a supply shortage in Europe. (See chart 3)
Asian paraxylene spiked $25/mt day on day to be assessed at $1,512.50/mt CFR Taiwan/China Friday, shown in red below, boosted by soaring feedstock isomer-grade mixed xylene, and despite bearish Western crude oil futures.
On a week-on-week basis, the Asian PX market marked a $41.50/mt increase, driven by news that BP had declared force majeure on purified terephthalic acid supply in Europe amid limited PX feedstock as a result of MX supply cuts.
The force majeure did not prompt spot PX demand from Europe, but it tightened MX feedstock supplies from the US to Asia.
BP was reported to be moving MX from the US to Europe in a bid to raise PX plant operations, which indirectly pushed up the Asian PX market.
Some market sources said concerns were again mounting as the PTA margin was squeezed further Friday, while Asian PTA prices increased only $10/mt week on week to $1,061/mt CFR China. (See chart 4)
Asian styrene monomer for H2 October climbed $23 on Friday to $1,463/mt FOB Korea, shown in red below, on tight supply and rising costs.
Spot SM stocks in East China fell to 58,700 mt this week, the lowest level in more than a year, and down 5,500 mt from the previous week.
The last time the inventory was around this level was August 19, 2011, when it stood at 52,500 mt.
The cause of the decline in the inventory is likely run cuts among Chinese SM producers due to a shortage of feedstock benzene in the country, coupled with demand for expandable polystyrene in China's domestic market.
Several Japanese SM producers -- typically big suppliers to China -- will undergo turnarounds over September-October.
The US styrene price, shown in blue below, was assessed Thursday at $1,501/mt FOB USG.
The European price, shown in green below, remained the highest globally at $1,635/mt FOB Rdam. (See chart 5)
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