NOON SNAPSHOT - Asia Markets Summary

09 January 2013 04:00  [Source: ICIS news]

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

CRUDE: Feb WTI $93.04/bbl, down 11 cents/bbl; Feb BRENT $111.75/bbl, down 19 cents/bbl
Crude futures softened in the morning trade, ahead of the release of December trade data from China and of the fourth-quarter earnings figures from US companies.

NAPHTHA: $970.50-973.50/tonne CFR Japan, up $5.00-6.00/tonne
Open-spec second-half February contract rose in morning trading.

BENZENE:  $1,410-1,420/tonne FOB Korea, down $25/tonne
Prices fell for the third successive trading session, tracking losses in other regional markets. Offers for March shipments were at $1,400-1,415/tonne FOB Korea, against $1,360-1,390/tonne FOB Korea.

TOLUENE: $1,340-1,345/tonne FOB Korea, down $15-20/tonne
Prices were assessed lower in the morning session, following a lower-priced fixture done at $1,345/tonne FOB Korea late on Tuesday. Offers for February cargoes were subsequently quoted at $1,345/tonne FOB Korea, but there were no bidders.

ETHYLENE: $1,310-1,330/tonne CFR NE Asia, up $10/tonne
Selling ideas rose to above $1,350/tonne CFR NE Asia amid tight supply in the region and on the back of firmer feedstock naphtha prices. Buying ideas for February shipments were heard at the low-$1,300/tonne CFR NE Asia levels.

PROPYLENE: $1,320-1,330/tonne CFR NE Asia, up $20/tonne at the low end
Some traders were seeking to sell spot propylene on a formula basis – at a premium to published market prices – while buying ideas from end-users were generally unchanged at the low-$1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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