NOON SNAPSHOT - Asia Markets Summary

30 November 2012 04:00  [Source: ICIS news]

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

CRUDE: WTI Jan $87.66/bbl, down 41 cents; BRENT Jan $110.40/bbl, down 36 cents
Crude futures declined on Friday morning amid a lack of progress in US budget talks between President Obama and the Republican congressional leaders.

NAPHTHA: $952-955/tonne CFR Japan, up $6-7/tonne
Open-spec first-half January contract rose in the morning because of gains in overnight crude futures.

BENZENE: $1,426-1,440/tonne FOB Korea, up $3/tonne on low end
Prices edged up on higher bids in the morning. Bids for January-loading lots were at $1,415-1,426/tonne FOB Korea, while a deal for a February-loading lot was done at $1,378/tonne FOB Korea. Offers for March shipment cargoes were at $1,365/tonne FOB Korea, against bids at $1,355/tonne FOB Korea.

TOLUENE: $1,310-1,325/tonne FOB Korea, stable
Prices were assessed stable, reflecting discussions at within the assessed price range. February-loading lots were offered at $1,310-1,315/tonne FOB Korea against bids at $1,280/tonne FOB Korea.

ETHYLENE: $1,150-1,180/tonne CFR NE Asia, down $10/tonne at low end
A deal was heard done at $1,150/tonne CFR China for a 2,300 tonne cargo of northeast Asian origin for arrival in the second half of December.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, down $10/tonne at high end
Selling ideas were heard at around $1,330/tonne CFR NE Asia, while buying ideas remained at $1,300-1,310/tonne CFR NE Asia. A deal for late December shipment was done at $1,320/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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