EVENING SNAPSHOT - Asia Markets Summary

15 January 2013 10:30  [Source: ICIS news]

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

CRUDE: WTI FEB $94.20/bbl up 6 cents; BRENT FEB $112.24/bbl; up 36 cents
Crude futures firmed on Tuesday after regaining ground lost during the morning in Asia. The rise followed a decline in the US dollar.

NAPHTHA: $962.50-964.50/tonne CFR Japan, up $12.00-13.00/tonne
Open-spec second-half February contract rose in afternoon trading in tandem with global crude futures.

BENZENE: $1,375-1,385/tonne FOB Korea, up $5/tonne
Prices strengthened in the afternoon session, buoyed by firmer ICE Brent futures and downstream styrene monomer (SM) numbers. Offers for second-half February cargoes were at $1,380/tonne FOB Korea in the afternoon session, against bids at $1,375/tonne FOB Korea.

TOLUENE: $1,290-1,295/tonne FOB Korea, down $2-10/tonne
Prices continued to edge lower on persistently weak demand from the key China market. Offers for second-half February were at $1,295-1,300/tonne FOB Korea in the afternoon session, but attracted no buyers. Several sellers were heard to have spot February cargoes, while end-users were delaying purchases for February arrivals because of subdued demand.

ETHYLENE: $1,340-1,370/tonne CFR NE Asia, steady
Buyers retreated to the sidelines following the recent hike in ethylene prices to near three-month highs and selling targets at $1,400/tonne CFR NE Asia and above failed to attract interest.

PROPYLENE: $1,330-1,340/tonne CFR NE Asia, stable
The recent slump in the domestic propylene market in China kept buying sentiment cautious. Buying ideas were maintained at the low $1,300s/tonne CFR NE Asia but no offers were heard.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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