EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $95.92/bbl, up 4 cents/bbl; Mar BRENT $113.11/bbl, down 17 cents/bbl
Crude prices remained trading near the highs recorded so far this year ahead of a key US Federal Reserve meeting. Prices were underpinned by positive economic data from Europe, as well as by tensions in the Middle East and North Africa.   

NAPHTHA: $986.50-988.50/tonne CFR Japan, down $1.00-2.00/tonne
Open-spec first-half March contract edged lower in afternoon trading on Brent crude futures dropped.

BENZENE: $1,382-1,385/tonne FOB Korea, up $7/tonne at the low end
Bids increased for second-half February-loading cargoes at $1,380-1,382/tonne FOB Korea.  An April-loading cargo changed hands at $1,375/tonne FOB Korea, while March-loading lots were offered at $1,380-1,390/tonne FOB Korea against bids at $1,375-1,382/tonne FOB Korea.

TOLUENE: $1,285-1,290/tonne FOB Korea, up $10/tonne at the low end
Discussions for February cargoes were thin. March cargoes offered at $1,290-1,300/tonne FOB Korea, were countered by bids at $1,275-1,285/tonne FOB Korea. Prices for second-half February and March cargoes  were at parity.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, stable
No CFR trades were heard. A Taiwanese producer currently has no spot cargoes for export after selling two parcels at $1,350/tonne FOB NE Asia earlier this month.

PROPYLENE: $1,310-1,335/tonne CFR NE Asia, steady
A concentrated arrival of imports into key China ports dampened buying appetite for spot cargoes. No deals were heard.

By: Staff Reporter
+44 20 8652 3214

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