EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: WTI FEB $90.97/bbl up 10 cents; BRENT FEB $110.77/bbl down 3 cents
Crude prices were rangebound on Friday evening as investors eyed upcoming weekend talks between US lawmakers ahead of the looming US budget deadline on 1 January.

NAPHTHA: $968-970/tonne CFR Japan, down $13.50-14.50/tonne
Open-spec first-half February contract fell in afternoon trading following a string of cash trades. The spread between the first-half March and first-half May contracts was done at $30/tonne, while the second-half February contract was done at $965/tonne CFR Japan as well as at $964/tonne CFR Japan. The spread between second-half February and first-half March contracts was done at $7/tonne while the first-half March/first-half April spread was done at $15.50/tonne.

BENZENE: $1,480-1,495/tonne FOB Korea, up $5/tonne on the higher end
The market continued to be bullish in the afternoon session with bids edging higher for February and March cargoes to $1,480-1,484/tonne FOB Korea and $1,460-1,465/tonne FOB Korea respectively. An inter-trade was dealt around midday at $1,465/tonne FOB Korea for March shipment.

TOLUENE: $1,355-1,370/tonne, FOB Korea, up $10-18/tonne
Asia toluene prices rose on the back of the increase in bid levels at $1,350-1,355/tonne FOB Korea for February cargoes, with buying interest for second-half of January emerging in the afternoon session.

ETHYLENE: $1,280-1,300/tonne CFR NE Asia, stable
No CFR NE Asia deals were heard done. In southeast Asia, there was talk that a cargo had been sold at a high of above $1,350/tonne FOB SE Asia for second-half January lifting although this could not be immediately confirmed.

PROPYLENE: $1,290-1,310/tonne CFR NE Asia, stable
Selling ideas were maintained at $1,300-1,320/tonne CFR NE Asia against buying ideas that were mainly capped at $1,300/tonne CFR NE Asia and below.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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