EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $96.75/bbl, up 7 cents/bbl; Mar BRENT $112.40/bbl, down 2 cents/bbl
Crude futures were trading near the previous session’s close in the afternoon trade. Prices remained supported by recent upbeat global economic data. Upside pressure was offset by expectations that weekly US inventory data will reveal a build in US crude and product stocks.

NAPHTHA: $989.50-991.50/tonne CFR Japan, up $11.00-12.00/tonne
Open-spec first-half March contract surged to the highest levels since 17 September 2012, as Brent crude futures rose at the end of Asian trading on Wednesday. Low Indian exports also buoyed naphtha prices.

BENZENE: $1,405-1,420/tonne, up $5/tonne at the high end
Offers for second-half February loading were at $1,430/tonne FOB Korea, against bids at $1,405/tonne FOB Korea.

TOLUENE: $1,315-1,330/tonne FOB Korea, up $5/tonne
A fixture for March loading was closed at $1,330/tonne FOB Korea, while three deals were reported for April loading – at $1,318/tonne, at $1,327/tonne and at $1,330/tonne FOB Korea.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, up $20/tonne at the high end
There was talk of a deal done into China at above $1,400/tonne CFR NE Asia for February delivery but there were no details.

PROPYLENE: $1,310-1,335/tonne CFR NE Asia, up $5/tonne at the high
A second-half February arrival cargo was heard sold at $1,335/tonne CFR China for second-half February arrival.

By: Staff Reporter
+44 20 8652 3214

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