EVENING SNAPSHOT - Asia Markets Summary

31 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 $97.72/bbl, down 22 cents/bbl; Mar BRENT $114.76/bbl, down 14 cents/bbl
Crude prices edged lower in the afternoon trade, but remained near their highest levels since September-October 2012. Prices rose on Wednesday on upbeat economic news from Europe and on US’ Federal Reserve plans to continue monetary stimulus measures.

NAPHTHA: $999.00-1,001.00/tonne CFR Japan, down $2.50-3.50/tonne
Open-spec first-half March contract pulled back from earlier gains in tandem with crude futures. The spread between the second-half March and second-half April contracts was done at $22.50/tonne in backwardation.

BENZENE: $1,390-1,395/tonne FOB Korea, up $5/tonne at the low end
Limited discussions were heard for second-half loading. Offers for March cargoes were at $1,400/tonne FOB Korea, against bids at $1,380-1,383/tonne  FOB Korea.

TOLUENE: $1,290-1,295/tonne FOB Korea, down $13-15/tonne
Offers for April cargoes were at $1,303-1,305/tonne FOB Korea were countered with bids at $1,290-1,295/tonne FOB Korea.

ETHYLENE: $1,360-1,400/tonne CFR NE Asia, up $10/tonne at the low end
Selling indications for late February/early March arrival were unchanged at above $1,400/tonne CFR NE Asia, against buying ideas capped at $1,350-1,360/tonne CFR NE Asia.

PROPYLENE: $1,330-1,360/tonne CFR NE Asia, up $10/tonne
A spot cargo of Japanese origin was sold to a trader at $1,360-1,365/tonne CFR China for first-half March delivery.


By: Staff Reporter
+44 20 8652 3214



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