EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Jan WTI $86.72/bbl, up 83 cents/bbl; Jan BRENT $108.65/bbl, up 74 cents/bbl
Crude futures prices gained further ground in the afternoon, buoyed by a weaker US dollar and supported by positive HSBC December manufacturing data for China.

NAPHTHA: $937.50-939.50/tonne CFR Japan, up $6.50-7.50/tonne
Open-spec second-half January contract rose in afternoon trading on the back of higher crude futures. The second-half February/second-half March spread traded at $13.50/tonne, while the first-half February/first-half March spread traded at $14.00/tonne. The second-half February/second-half March spread was done at $13.75/tonne.

BENZENE: $1,465-1,480/tonne FOB Korea, up $4-5/tonne
Discussions for prompt and January-loading cargoes were scarce in the afternoon, with only February-loading lots offered at $1,475/tonne FOB Korea against bids at $1,460/tonne FOB Korea. March-loading cargoes were offered at $1,447/tonne FOB Korea, meeting bids at $1,440-1,443/tonne FOB Korea.

TOLUENE: $1,390-1,410/tonne FOB Korea, steady
The market was quiet, with limited discussions for prompt and January-loading lots. March-loading lots were offered at $1,370/tonne FOB Korea against bids at $1,360/tonne FOB Korea.

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

PROPYLENE: $1,300-1,320/tonne CFR NE Asia, flat
Selling ideas for January cargoes were heard at the low $1,300s/tonne CFR NE Asia against buying ideas at $1,300/tonne CFR NE Asia. Two deals for January shipment were heard done at $1,315-1,320/tonne CFR China.


By: Staff Reporter
+44 20 8652 3214



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