NOON SNAPSHOT - Asia Markets Summary

07 May 2012 05:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Monday’s midday Asia oil and chemical markets summary from ICIS.

CRUDE: WTI June $97.11/bbl, down $1.38/bbl; BRENT June $112.29/bbl, down 89 cents
Crude futures fell sharply on Monday morning, undermined by a stronger US dollar and heightened worries over the eurozone region following the elections in France and Greece of anti-austerity political leaders.

NAPHTHA: $935.50-938.50/tonne CFR Japan, down $27.50-29.50/tonne
Open-spec naphtha prices softened on Monday morning in Asia amid substantial declines in crude.

BENZENE: $1,170-1,173/tonne FOB Korea, down $30-32/tonne
Prices fell on Monday morning because of weak upstream markets. Offers for July loading at $1,173/tonne FOB Korea met bids at $1,170/tonne FOB Korea. Around 9,000 tonnes were tendered by Taiwan’s CPC Corp at below $1,150/tonne for May loading.

TOLUENE: $1,180-1,190/tonne FOB Korea, down $20-25/tonne
Offers for July loading were at $1,190-1,195/tonne FOB Korea. Bids were at $1,180/tonne FOB Korea.  

ETHYLENE: $1,270-1,310/tonne CFR NE Asia, stable
Market players stayed at the sidelines amid concerns over the outlook for derivative markets such as polyethylene (PE) and there were no firm discussions. Selling ideas at $1,300-1,350/tonne CFR NE Asia met buying interest at below $1,300/tonne CFR NE Asia.

PROPYLENE: $1,410-1,430 /tonne CFR NE Asia, stable
Buying interest for second-half May arrival was at $1,400/tonne CFR NE Asia or below, but no offers emerged.

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly