EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Feb WTI $94.39/bbl, up 15 cents/bbl; Mar BRENT $110.02/bbl, up 34 cents/bbl
Crude futures firmed in the afternoon trade, supported by heightened supply worries following an attack on a gas field in Algeria and the abduction of foreign workers by militants.

NAPHTHA: $941.00-943.00/tonne CFR Japan, up $0.50-$1.50/tonne
Open-spec first-half March contract rebounded in afternoon trading, tracking higher crude values.

BENZENE: $1,400-1,405/tonne FOB Korea, down $5/tonne at the high end
Bids for second-half February cargoes were at $1,395-1,400/tonne FOB Korea, and those for March shipments were at $1,390-1,400/tonne FOB Korea.

TOLUENE: $1,290-1,295/tonne FOB Korea, down $5/tonne
Prices tracked the decline in China’s domestic market. A deal was settled at $1,290/tonne FOB Korea for March cargoes.

ETHYLENE: $1,350-1,370/tonne CFR NE Asia, up $10/tonne at the low end
Selling ideas were unchanged at above $1,400/tonne CFR NE Asia against buying ideas capped at around $1,350/tonne CFR NE Asia. A 3,000-3,500-tonne regional spot cargo was sold into China for any February arrival on a floating basis.

PROPYLENE: $1,310-1,340/tonne CFR NE Asia, down $10/tonne at the low end
Some deals, mostly for February arrival into eastern China, were done at $1,310-1,320/tonne CFR.

By: Staff Reporter
+44 20 8652 3214

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