EVENING SNAPSHOT - Asia Markets Summary

06 December 2012 10:00  [Source: ICIS news]

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

CRUDE: WTI JAN $88.14/bbl up 26 cents; BRENT JAN $109.07/bbl, up 26 cents
Crude futures prices strengthened on Thursday afternoon, supported by a softer US dollar and Middle East tensions. Crude values had fallen the previous day on weak  economic data and a large build in US gasoline stocks.

NAPHTHA: $944.50-946.50/tonne CFR Japan, up $9.50/tonne
Open-spec second-half January contract rose in the afternoon following fresh spot purchases from South Korea and Japan.

BENZENE: $1,470-1,500/tonne FOB Korea, down by $10 on low end, up by $5 on high end
Asia's spot benzene prices were assessed at a wider range on 6 December, reflecting the gap between buying and selling ideas heard in the market. An offer for a January loading cargo was heard at $1,500/tonne FOB Korea, while a bid for that lot was at $1,470/tonne FOB Korea.

TOLUENE: $1,340-1,355/tonne FOB Korea, up by $10 on low end
Asia's toluene prices rose on the back of bids heard for January-loading cargoes. A January/February spread deal was heard done at $15/tonne. A bid for a January-loading cargo was heard at $1,340/tonne FOB Korea. No offers for January lots were heard.

ETHYLENE: $1,150-1,200/tonne CFR NE Asia, stable
Discussions for end-December/January arrival cargoes were mainly taking place within $1,150-1,200/tonne CFR NE Asia, according to the majority of buyers and traders with the exception of a deal concluded by two parties at a higher $1,250/tonne CFR China for a first half January arrival cargo.

PROPYLENE: $1,320-1,335/tonne CFR NE Asia, up by $5-20/tonne
Selling ideas for late December/early January cargoes were heard at $1,340-1,360/tonne CFR NE Asia against buying ideas at the low $1,300s/tonne CFR NE Asia. Two deals for end December/early January shipment were done at $1,320-1,330/tonne CFR China. A separate deal was sold at $1,335/tonne CFR China.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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