EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $95.56/bbl, up 33 cents/bbl; Mar BRENT $112.64/bbl, down 16 cents/bbl
Brent crude futures continued to trade below the previous session’s close although upbeat Chinese manufacturing data from HSBC limited downward pressure. US crude continued to trade at a premium after heavy overnight losses, which were driven by concerns over increased crude and product stocks.

NAPHTHA: $990.00-992.00/tonne CFR Japan, up $0.50/tonne at the low end, down $0.50/tonne at the high end
The trading range for open-spec first-half March contract has narrowed amid falling crude futures.

BENZENE: $1,405-1,415/tonne FOB Korea, unchanged
March cargoes were offered at $1,415/tonne FOB Korea, against bids at $1,405/tonne FOB Korea in the afternoon session. March parcels are priced at parity with second-February loading.

TOLUENE: $1,303-1,310/tonne FOB Korea, up $3/tonne at the low end, down $5/tonne at the high end
Cargoes for second half-February loading were offered at $1,310/tonne FOB Korea, with bids at $1,300-1,303/tonne FOB Korea.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, stable
Selling ideas remained at above $1,400/tonne CFR NE Asia. No fresh trades were heard.

PROPYLENE: $1,310-1,335/tonne CFR NE Asia, unchanged
A deal was heard done at $1,310/tonne CFR China for mid-February arrival.

By: Staff Reporter
+44 20 8652 3214

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