NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Feb WTI $93.87/bbl, up 5 cents/bbl; Feb BRENT $111.63/bbl, down 26 cents/bbl
Brent crude futures eased in the morning trade amid concerns over increased inflationary pressure in China. US crude futures, on the other hand, were trading a few cents up. Negative pressure was offset by cuts to Saudi Arabia’s oil output and recent upbeat Chinese trade data.

NAPHTHA: $972.50-975.50/tonne CFR Japan, down $2.50-3.50/tonne
Open-spec second-half February contract eased in morning trading in tandem with Brent crude futures.

BENZENE: $1,390-1,395/tonne FOB Korea, up $5/tonne at the low end
Prices edged up on the lower end, on the back of higher bids following a firmer European market. Offers for March cargoes were at $1,393-1,395/tonne FOB Korea, against bids at $1,380-1,390/tonne FOB Korea.

TOLUENE: $1,315-1,330/tonne FOB Korea, stable
Bids for February lots were at $1,315/tonne FOB Korea, while bids for March cargoes were at $1,320/tonne FOB Korea.

ETHYLENE:  $1,340-1,360/tonne CFR NE Asia, up $10-20/tonne
A 3,000-tonne spot cargo of Korean origin for first-half February lifting was heard sold at $1,380/tonne CFR China, but this could not be immediately confirmed. Buying ideas were heard at below $1,350/tonne CFR NE Asia.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, stable
Selling ideas were now at $1,350/tonne CFR NE Asia and above but buying ideas remained at the low-$1,300/tonne CFR NE Asia levels.

By: Staff Reporter
+44 20 8652 3214

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