NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Jan WTI $86.84/bbl, up 11 cents/bbl; Feb BRENT $108.10/bbl, down 8 cents/bbl
Crude futures prices were rangebound in the morning, as worries over the lack of progress in US budget talks were offset by upbeat comments from China’s central bank.

NAPHTHA: $937-940/tonne CFR Japan, down 50 cents at the low end/up 50 cents at the high end
Open-spec second-half January contract were mixed in morning trading, with prices rising by 50 cents at the upper end of the range. The naphtha market is getting balanced in terms of demand and supply.

BENZENE: $1,465-1,480/tonne FOB Korea, stable
Discussions for prompt and January-loading cargoes were limited, while February-loading lots were offered at $1,465-1,475/tonne FOB Korea against bids at $1,450-1,455/tonne FOB Korea. March-loading cargoes were offered at $1,450-1,455/tonne FOB Korea, meeting bids at $1,450-1,455/tonne FOB Korea.

TOLUENE: $1,390-1,410/tonne FOB Korea, steady
The morning market was inactive, with a sole bid heard for March shipment cargoes at $1,355/tonne FOB Korea. For January-loading lots, bids were also heard for export cargoes at $1,380-1,385/tonne CFR China.

ETHYLENE: $1,250-1,300/tonne CFR NE Asia, unchanged
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, stable
Buying ideas were capped at around $1,300/tonne CFR NE Asia against few firm offers heard in the morning

By: Staff Reporter
+44 20 8652 3214

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