EVENING SNAPSHOT - Asia Markets Summary

04 January 2013 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 $91.83/bbl down $1.09; BRENT FEB $110.83/bbl down $1.31
Crude futures continued to decline on Friday afternoon. Prices were undermined by a stronger US dollar and expectations of further tense US budget debates.

NAPHTHA: $960-962/tonne CFR Japan, down $8-9/tonne
Open-spec second-half February contract fell in afternoon trading on crude losses. Meanwhile, the spread between the second half of March and the second half of April contracts was done at $14.25/tonne in backwardation.

BENZENE: $1,480-1,490/tonne FOB Korea, up by 5-10/tonne
Prices rebounded in the afternoon session, buoyed by higher offers and bids. Bids for February parcels were quoted at $1,470-1,482/tonne FOB Korea amid the absence of sellers. March cargoes were offered at $1,470/tonne FOB Korea against bids at $1,455/tonne FOB Korea.

TOLUENE: $1,360-1,370/tonne, up $5/tonne on the lower end
A deal was reported at $1,361/tonne FOB Korea for H1 February shipment. An offer for March parcel was at $1,370/tonne FOB Korea, against a separate bid at $1,355/tonne FOB Korea.

ETHYLENE: $1,290-1,310/tonne CFR NE Asia, stable
No CFR deals were heard while buying ideas were mainly unchanged at or below $1,300/tonne CFR Ne Asia

PROPYLENE: $1,290-1,310/tonne CFR NE Asia, stable
Buyers were waiting for offers from traders and discussions are expected to kick off from next week. Buying interest was stable at $1,280-1,300/tonne CFR NE Asia.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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