EVENING SNAPSHOT - Asia Markets Summary

29 January 2013 10:27  [Source: ICIS news]

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

CRUDE: Mar WTI $96.59/bbl, up 15 cents/bbl; Mar BRENT $113.39/bbl, down 9 cents/bbl
Crude prices were rangebound in the afternoon, with prices keeping close to January highs. Positive US business data and Middle East tensions are supporting crude values, while traders await the outcome of a key US Federal Reserve monetary policy meeting later this week.

NAPHTHA: $983.50-985.50/tonne CFR Japan, down $7.50-8.50/tonne
Open-spec first-half March contract reversed earlier gains in afternoon trading as petrochemical stockpiling activity in China started to soften two weeks before the Lunar New Year.

BENZENE: $1,395-1,410/tonne FOB Korea, up $20-25/tonne
Bids turned higher in the afternoon session. An April deal was settled at $1,395/tonne FOB Korea.         

TOLUENE: $1,295-1,300/tonne FOB Korea, up $5/tonne
A second fixture for March loading was concluded in early afternoon trade at $1,300/tonne FOB Korea. Subsequent discussions were thin. An offer for April loading at $1,315/tonne FOB Korea were countered by bids at $1,300/tonne FOB Korea.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, stable
No CFR trades were heard, while selling ideas for March shipments were at above $1,300/tonne FOB NE Asia.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, up $5/tonne at the high end
Selling ideas were heard at above $1,350/tonne CFR NE Asia at most, against buying interest capped at $1,320-1,330/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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