EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Jan WTI $87.29/bbl, up 54 cents/bbl; Jan BRENT $110.30/bbl, up 47 cents/bbl
Crude futures strengthened on Wednesday afternoon, supported by a softer US dollar, and ongoing Middle East tensions. However, demand worries generated by Eurozone debt crisis continued to cap upside pressure.

NAPHTHA: $946.00-948.00/tonne CFR Japan, up $0.50-$1.50/tonne
Open-spec first-half January contract rebounded in the afternoon, tracking higher crude futures.

BENZENE: $1,365-1,385/tonne FOB Korea, unchanged
January-loading lots were offered at $1,365/tonne FOB Korea, against bids at $1,355-1,357/tonne FOB Korea. A deal for a February-loading lot was fixed at $1,323/tonne FOB Korea.

TOLUENE: $1,277-1,283/tonne FOB Korea, up $3-9/tonne
Higher-priced deals were concluded on tight supply. A deal was done at $1,277/tonne FOB Korea for a January-loading cargo.

ETHYLENE: $1,190-1,230/tonne CFR NE Asia, down $10-20/tonne
Sporadic buying ideas were mentioned at $1,150/tonne CFR China/Taiwan for second-half December-arrival cargoes, but selling interest at below $1,250/tonne CFR NE Asia is limited. Firm offers were elusive.

PROPYLENE: $1,350-1,355/tonne CFR NE Asia, down $5/tonne at the high end
Selling ideas for December cargoes were at around $1,360/tonne CFR NE Asia against buying ideas at $1,330-1,340/tonne CFR NE Asia. A deal for end-December shipment was heard done at $1,350/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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