EVENING SNAPSHOT - Asia Markets Summary

09 November 2012 10:00  [Source: ICIS news]

SINGAPORE (ICIS)--Here is Friday’s end-of-day Asia oil and chemical markets summary.

CRUDE: Dec WTI $85.17/bbl, up 8 cents/bbl; Dec BRENT $107.36/bbl, up 11cents/bbl
Crude futures continued to trade above the previous session’s close in afternoon trade, but off earlier highs after the US dollar firmed. Demand concerns generated by weakness in the US economy and the eurozone debt remained, but this was offset in part by supply worries amid ongoing tensions in the Middle East.

NAPHTHA: $937-939/tonne CFR Japan, up $2-3/tonne
Open-spec prices for the second half of December rose in the afternoon, as Brent crude futures were stable at the end of Asian trading on Friday.

BENZENE: $1,375-1,390/tonne FOB Korea, up $10/tonne
A deal was concluded for a December-loading cargo at $1,380/tonne FOB Korea. Discussions for December and January-loading cargoes were limited in the afternoon. February-loading cargoes were offered at $1,308-1,310/tonne FOB Korea, while bids were at $1,305/tonne FOB Korea.

TOLUENE: $1,245-1,256/tonne FOB Korea, up $16-20/tonne
Swap deals were concluded for December/January at $35/tonne and $36/tonne backwardation, respectively. Bids for December-loading cargoes were at $1,240/tonne FOB Korea, while January-loading lots were offered at $1,225-1,228/tonne FOB Korea against bids at $1,205-1,220/tonne FOB Korea.

ETHYLENE: $1,290-1,330/tonne CFR NE Asia, stable
Buying notions for a 5,000-tonne cargo of Mexican origin offered into Asia this week were capped at $1,220/tonne CFR China/Taiwan, but the December shipment cargo was heard sold to an end-user in Europe in view of the low price in Asia.

PROPYLENE: $1,370-1,380/tonne CFR NE Asia, stable
Selling ideas for December shipment hovered at $1,380-1,400/tonne CFR NE Asia, while buying ideas were capped at $1,350-1,370/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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