NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $96.68/bbl, up 24 cents/bbl; Mar BRENT $113.54/bbl up 6 cents/bbl
Crude prices edged higher, supported by positive US business data. Upside pressure was offset by uncertainty ahead of a key US Federal Reserve monetary policy meeting.

NAPHTHA: $991.00-994.00/tonne CFR Japan, up $4.50-5.50/tonne
Open-spec first-half March contract rose in morning trading on rising crude prices.

BENZENE: $1,375-1,385/tonne FOB Korea, down $7/tonne at the low end
A bid for second-half February loading was quoted at $1,375/tonne FOB Korea amid an absence of sellers. Offers for April parcels were at $1,385/tonne FOB Korea that were countered with bids at $1,370/tonne FOB Korea. Market sentiment improved in the morning session as more bidders participated in the market.     

TOLUENE: $1,290-1,295/tonne FOB Korea, up $5/tonne
A deal was settled at $1,295/tonne FOB Korea for March loading. Bids for April cargoes were at $1,290/tonne FOB Korea, but there were no sellers.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, stable
Buyers stayed on the sidelines amid concerns over the performance of key derivatives. Interest in offers/selling ideas at above $1,400/tonne CFR NE Asia remained limited.

PROPYLENE: $1,320-1,335/tonne CFR NE Asia, up $10/tonne at low end
A regional spot cargo was heard to have changed hands at around $1,330/tonne CFR China for second-half February arrival.

By: Staff Reporter
+44 20 8652 3214

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