NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Jan WTI $86.50/bbl, up 61 cents/bbl; Jan BRENT $108.28/bb, up 37 cents/bbl
Crude futures prices strengthened in the morning, supported by upbeat HSBC December manufacturing data for China and a weaker US dollar. Crude had lost ground in the previous session undermined by concerns over the lack of progress in US budget talks.

NAPHTHA: $930.00-933.00/tonne CFR Japan, down $2.50-3.50/tonne
Open-spec second-half January contract fell at midday despite rising crude values.

BENZENE: $1,461-1,475/tonne FOB Korea, stable
For second-half January-loading cargoes, offers at $1,470/tonne FOB Korea met bids at $1,450/tonne FOB Korea. February-loading lots were offered at $1,460-1,465/tonne FOB Korea, meeting bids at $1,450-1,455/tonne FOB Korea.

TOLUENE: $1,390-1,410/tonne FOB Korea, steady
Prices held steady amid limited discussions within the market. A sole offer for March-loading lots was at $1,375/tonne FOB Korea.

ETHYLENE: $1,250-1,300/tonne CFR NE Asia, flat
Selling ideas were heard at above $1,300/tonne CFR NE Asia against buying ideas at around $1,250/tonne CFR NE Asia or lower.

PROPYLENE: $1,300-1,320/tonne CFR NE Asia, up $10/tonne at the high end
Selling ideas for January cargoes were heard at the low-$1,300/tonne CFR NE Asia levels against buying ideas at $1,300/tonne CFR NE Asia. Several deals were heard done at $1,315-1,320/tonne CFR China.


By: Staff Reporter
+44 20 8652 3214



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