NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Feb WTI $95.59/bbl, up 3 cents/bbl; Mar BRENT $112.01/bbl, up 30 cents/bbl
Crude futures edged higher in the morning trade, supported by a softer US dollar and expected further monetary stimulus by Japan.  Due to a public holiday in US, there was no NYMEX WTI settlement on Monday. The price change for WTI is against the closing level on 18 January.

NAPHTHA: $971.00-974.00/tonne CFR Japan, down $0.50-$1.50/tonne
Open-spec first-half March contract eased in morning trading despite rising crude futures.

BENZENE: $1,435-1,445/tonne FOB Korea, stable
Market was thinly traded in the morning session, with sporadic offers for March at $1,450/tonne FOB Korea, and for April loading at $1,445/tonne FOB Korea.

TOLUENE: $1,330-1,340/tonne FOB Korea, flat
Discussions were limited, with the intermonth month swap between March and April offered at $5-10/tonne, but there were no bidders.

ETHYLENE: $1,350-1,380/tonne CFR NE Asia, stable
No CFR NE Asia deals were heard, while selling ideas for a 2,000-3,000-tonne second-half February lifting parcel were at a minimum of around $1,400/tonne FOB SE Asia.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, unchanged
Selling ideas were heard at around $1,340/tonne CFR NE Asia, with talk of deals done at $1,310/tonne CFR China but details were not immediately available.

By: Staff Reporter
+44 20 8652 3214

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