NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Mar WTI $97.47/bbl, down 10 cents/bbl; Mar BRENT $114.32/bbl, down 4 cents/bbl
Crude prices were trading a few cents down on the previous close. WTI prices climbed to their highest levels since September 2012, buoyed by upbeat US housing data. Traders await the outcome of a key US Federal Reserve monetary policy meeting later on Wednesday.

NAPHTHA: $989.00-992.00/tonne CFR Japan, up $5.50-6.50/tonne
Open-spec first-half March contract rose in morning trading, in line with overnight crude increases.

BENZENE: $1,385-1,400/tonne FOB Korea, down $10/tonne
A bid for second-half February loading was quoted at $1,385/tonne FOB Korea, but there were no sellers. Offers for April parcels were at $1,382/tonne FOB Korea were countered by bids at $1,385/tonne FOB Korea.

TOLUENE: $1,300-1,305/tonne FOB Korea, up $5/tonne
A bid for March lots were at $1,300/tonne FOB Korea in the absence of selling interest. Offers for April loading were at $1,320/tonne FOB Korea, against bids at $1,300/tonne FOB Korea.

ETHYLENE: $1,350-1,400/tonne CFR NE Asia, stable
Buyers remained on the sidelines amid prevailing high prices. They were not keen to pay above $1,400/tonne CFR NE Asia for spot cargoes.

PROPYLENE: $1,320-1,340/tonne CFR NE Asia, flat
Buying ideas were unchanged at below $1,350/tonne CFR NE Asia, while selling ideas remained at as high as above $1,350/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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