NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $96.60/bbl, down 8 cents/bbl; Mar BRENT $112.16/bbl, down 26 cents/bbl
Crude futures edged lower in the morning trade, after gaining ground in the previous session amid growing optimism over the global economy.

NAPHTHA: $977.50-980.50/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half March contract rose in morning trading, supported by low Indian exports.

BENZENE: $1,405-1,415/tonne FOB Korea, down $25/tonne
A trader sold a March-loading shipment at $1,410/tonne FOB Korea towards mid-day. Bids for second-half February were at $1,405/tonne FOB Korea, with offers at $1,430/tonne FOB Korea. Lower offer-bid levels in the morning session tracked the overnight weaker US market.

TOLUENE: $1,310-1,325/tonne FOB Korea, down $15-20/tonne
Market is thinly traded amid bearish sentiment, following recent price declines seen across aromatics products. A bid emerged in the morning session at $1,300/tonne FOB Korea for March cargo, but there were no sellers.

ETHYLENE: $1,350-1,380/tonne CFR NE Asia, steady
No fresh deals were heard, while selling ideas were unchanged at above $1,400/tonne CFR NE Asia.

PROPYLENE: $1,310-1,330/tonne CFR NE Asia, stable
An inter-trade was heard done at $1,325/tonne CFR NE Asia for second-half February arrival.

By: Staff Reporter
+44 20 8652 3214

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