EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Feb WTI $95.35/bbl, down 14 cents/bbl; Mar BRENT $110.89/bbl, down 21 cents/bbl
Crude futures continued to trade below the previous session’s close in the afternoon trade, undermined by a stronger US dollar. But downside was limited by better than expected fourth-quarter growth figures from China.

NAPHTHA: $964-966/tonne CFR Japan, up $14-15/tonne
Open-spec first-half March contract rose further in afternoon trading, helped by rising demand from northeast Asian end-users.

BENZENE: $1,425-1,430/tonne FOB Korea, up $5/tonne at the low end
A March deal was settled at $1,430/tonne FOB Korea in the afternoon session. Bids for second-half February cargoes were at $1,425/tonne FOB Korea.

TOLUENE: $1,300-1,310/tonne FOB Korea, up $5-10/tonne
Prices rose further towards the close of trades, buoyed by the higher bid and offer levels for March shipments. Offers for March parcels were at $1,320/tonne FOB Korea, against bids at $1,305/tonne Fob Korea.       

ETHYLENE: $1,350-1,370/tonne CFR NE Asia, stable
Selling ideas at above $1,400/tonne CFR NE Asia failed to attract interest and discussions were heard on a formula basis to China because of a wide buy-sell gap.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, steady
Discussions to sell a second-half February arrival cargo were underway. An offer at $1,330/tonne CFR China was met with buying interest at $1,310/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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