EVENING SNAPSHOT - Asia Markets Summary

06 February 2013 10:00  [Source: ICIS news]

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

CRUDE: Mar WTI $96.15/bbl, down 49 cents/bbl; Mar BRENT $116.40/bbl, down 12 cents/bbl
Crude prices were trading below the previous session’s close, but still near recent highs following the release of positive economic data from the US and Europe.

NAPHTHA: $1,019.00-1,021.00/tonne CFR Japan, up $6.50-7.50/tonne
Open-spec second-half March contract rose in afternoon trading to the highest since 18 April 2012. The second-half March/second-half April spread was done at $33/tonne in backwardation.

BENZENE:$1,405-1,410/tonne, up $7/tonne at the high end
March-loading cargoes were offered at $1,410-1,415/tonne FOB Korea against bids at $1,375-1,400/tonne FOB Korea. A deal for April-loading cargo was booked at $1,410/tonne FOB Korea, with subsequent bids quoted at $1,400/tonne FOB Korea levels. No offers were heard for May-loading cargoes.

TOLUENE: $1,305-$1,310/tonne FOB Korea, up $5/tonne
The market continues to be in contango for March and April. Offers for March-loading cargoes at $1,305-1,310/tonne FOB Korea against bids at $1,300/tonne FOB Korea. April-loading cargo offers were heard at $1,325/tonne FOB Korea, while bids were at $1,308-1,315/tonne FOB Korea. A May-loading cargo was booked at $1,320/tonne FOB Korea.

ETHYLENE: $1,380-1,410/tonne CFR NE Asia, stable
Buying interest was capped at the high-$1,300/tonne CFR NE Asia levels against selling ideas at above $1,400/tonne CFR NE Asia.

PROPYLENE: $1,380-1,420/tonne CFR NE Asia, up $20-40/tonne
A spot cargo for early to mid-March arrival was sold to an end-user at around $1,420/tonne CFR China, while another parcel changed hands at $1,425/tonne CFR China.

By: Staff Reporter
+44 20 8652 3214

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