EVENING SNAPSHOT - Asia Markets Summary

09 January 2013 10:00  [Source: ICIS news]

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

CRUDE: Feb WTI $92.97/bbl, down 18 cents/bbl; Feb BRENT $111.70/bbl, down 24 cents/bbl
Crude futures were lower in the afternoon trade, with market attention remaining focussed on the upcoming release of December trade data from China and the fourth-quarter earnings of US companies.

NAPHTHA: $976.50-978.50/tonne CFR Japan, up $5.00-6.00/tonne
Open-spec second-half February contract extended gains in afternoon trading, underpinned by strong demand from northeast Asia.

BENZENE: $1,385-1,395/tonne FOB Korea, down $25/tonne
Prices plunged further in the afternoon session, with two deals for March shipments done – at $1,370/tonne FOB Korea and at $1,385/tonne FOB Korea.

TOLUENE: $1,330-1,345/tonne FOB Korea, down $10/tonne at the low end
Prices slipped on the lower end, reflecting a lower-priced deal at $1,340/tonne FOB Korea and lower offer-bids levels for March shipments. Offers for March cargoes were at $1,330-1,340/tonne FOB Korea, against bids at $1,300-1,320/tonne FOB Korea.

ETHYLENE: $1,310-1,330/tonne CFR NE Asia, stable
Selling ideas were unchanged at above $1,350/tonne CFR NE Asia against buying ideas for February shipments at the low-$1,300/tonne CFR NE Asia levels.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, up $10 at the high end
Selling ideas rose to above $1,350/tonne CFR NE Asia, but buying ideas were lower at $1,320-1,330/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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