NOON SNAPSHOT - Asia Markets Summary

11 December 2012 04:00  [Source: ICIS news]

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

CRUDE: Jan WTI $85.41/bbl, down 15 cents/bbl; Jan BRENT $107.13/bbl, down 20 cents/bbl
Crude futures prices edges lower in the morning trade, undermined political worries in Italy and ongoing US budget negotiations.

NAPHTHA: $944.50-947.50/tonne CFR Japan, down $1.50-2.50/tonne
Open-spec second-half January contract eased in the morning on concerns over spot demand.

BENZENE: $1,441-1,470/tonne FOB Korea, stable
High benzene prices weighed on buying sentiment, resulting in limited discussions in the market. Bids for February-loading lots were at $1,425/tonne FOB Korea and $1,405-1,410/tonne FOB Korea. No offers were heard in the morning trading session.

TOLUENE: $1,360-1,370/tonne FOB Korea, steady
Offers were limited, while bids for February and March-loading lots were at $1,350/tonne FOB Korea and $1,330/tonne FOB Korea respectively. There were no discussions for January-loading cargoes.

ETHYLENE: $1,200-1,250/tonne CFR NE Asia, flat
Selling ideas remained at above $1,250/tonne CFR NE Asia while buying ideas were capped at $1,200/tonne CFR NE Asia.

PROPYLENE: $1,305-1,325/tonne CFR NE Asia, down $10/tonne
Selling ideas for January cargoes were heard at above $1,325/tonne CFR NE Asia against buying ideas at around $1,300/tonne CFR NE Asia. A deal for first half January shipment was sold at $1,305/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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