EVENING SNAPSHOT - Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Monday’s end-of-day Asia oil and chemical market summary from ICIS.

CRUDE: WTI APR $93.66/bbl up 53 cents; BRENT APR $114.93/bbl up 83 cents
Crude values firmed on Monday afternoon as a softer US dollar buoyed prices and cancelled out earlier downward pressure generated by weaker than expected Chinese manufacturing data.

NAPHTHA: $1,011-1,013/tonne CFR Japan, up $15-16/tonne
The open-spec first-half April contract rose in afternoon trading, helped by rising crude futures and strong demand from Taiwan.

BENZENE: $1,410-1,420/tonne FOB Korea, up $15/tonne
A deal was settled at $1,405/tonne FOB Korea for April loading prior to open market trading. Subsequently, offers for April cargoes were at $1,415-1,420/tonne FOB Korea, against bids at $1,390-1,405/tonne FOB Korea. 

TOLUENE: $1,285-1,295/tonne FOB Korea, stable
Offers for April loading were at $1,300/tonne FOB Korea, while bids were at $1,295/tonne FOB Korea. April is priced at a contango of $10-15/tonne in comparison with March.

ETHYLENE: $1,420-1,430/tonne CFR NE Asia, stable
Buyers stayed at the sidelines and no deals were heard. Whether price  targets at around $1,450/tonne CFR NE Asia could be achieved would depend on spot appetite from the leading China market, traders said.

PROPYLENE: $1,410-1,430/tonne CFR NE Asia, steady
A mid-March shipment was heard available for sale at $1,420/tonne CFR China but it was unclear if any deal was done.

By: Staff Reporter
+44 20 8652 3214

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