NOON SNAPSHOT - Asia Markets Summary

29 October 2012 04:00  [Source: ICIS news]

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

CRUDE: WTI Dec $85.92/bbl, down 36 cents; BRENT Dec $109.30/bbl, down 25 cents
Crude futures fell in the morning, because of a firmer US dollar and news that refineries on the east coast of the US have lowered their run rates as a precaution ahead of the arrival of Hurricane Sandy.

NAPHTHA: $948.50-951.50/tonne CFR Japan, up $4.00-5.50/tonne
Open-spec prices for the first half of December contracts rose in the morning, as demand for petrochemical feedstock outpaced supply. Singapore’s oil markets were closed on Friday for a public holiday.

BENZENE: $1,275-1,302/tonne FOB Korea, down $7/tonne at low end
Prices were largely stable, because of limited discussions heard at Friday’s assessed price range. Offers for December-loading lots were at $1,285-1,290/tonne FOB Korea, while bids were at $1,275/tonne FOB Korea. January-shipment cargoes were offered at $1,255-1,260/tonne FOB Korea against bids at $1,245/tonne FOB Korea.

TOLUENE: $1,195-1,215/tonne FOB Korea, down $11/tonne at low end
Discussions for November-loading spot cargoes were limited. Bids for December-loading lots were heard at $1,195/tonne FOB Korea, but no offers were heard.

ETHYLENE: $1,340-1,370/tonne CFR NE Asia, stable
Firm offers and bids were scarce, as traders and buyers adopt a wait-and-see stance for a clearer price direction.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, stable
Buying ideas remained at $1,350/tonne CFR NE Asia or below against few buying ideas heard in the morning.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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