EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI DEC $85.30/bbl, down 15 cents; BRENT JAN $108.20/bbl, up 19 cents
ICE Brent futures maintained some upside on Friday afternoon, but NYMEX WTI futures lost ground. Downside pressure, generated by concerns over the strength of the global economy, was offset by concerns over Middle East supplies amid heightened tensions in the region.

NAPHTHA: $941-943/tonne CFR Japan, down $1-2/tonne
Open-spec first-half January contract fell in the afternoon, following a physical trade at $933/tonne CFR Japan for delivery in the second half of January.

BENZENE: $1,335-1,355/tonne FOB Korea, up $5/tonne
Benzene prices rose amid higher bids for second-half December-loading cargoes at $1,335/tonne FOB Korea, which were made to boost selling sentiment. Offers remained scarce for December-loading lots, while January-loading cargoes were offered at $1,320-1,335/tonne FOB Korea against bids at $1,305-1,317/tonne FOB Korea.

TOLUENE: $1,268-1,278/tonne FOB Korea, unchanged
Talks for November and December-loading cargoes were limited. January-loading lots were offered at $1,250/tonne FOB Korea against bids at $1,235-1,237/tonne FOB Korea.

ETHYLENE: $1,250-1,280/tonne CFR NE Asia, stable
Talk of a deal concluded at below $1,250/tonne CFR China could not be substantiated due to the lack of details. Offers were mainly at $1,280/tonne CFR China for December arrival cargoes, according to buyers.

PROPYLENE: $1,350-1,360/tonne CFR NE Asia, down by $10/tonne
Selling ideas for December cargoes were at around $1,370-1,380/tonne CFR NE Asia against buying ideas at $1,350-1,360/tonne CFR NE Asia. A deal for second half December shipment was done at $1,355/tonne CFR China. A key end-user bought two lots at $1,340/tonne and $1,350/tonne CFR China, but most market participants said it was difficult to get the cargoes below $1,350/tonne CFR China.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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