NOON SNAPSHOT - Asia Markets Summary

25 February 2013 04:00  [Source: ICIS news]

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

CRUDE: Apr WTI $93.03/bbl, down 10 cents/bbl; Apr BRENT $113.93/bbl, down 17 cents
Crude oil futures were lower in early Asian trading after banking firm HSBC reported that its China flash purchasing managers’ index for February slipped to a four-month low.

NAPHTHA: $995-998/tonne CFR Japan, down $2-3/tonne
Open-spec first-half April contract drifted lower in morning trading on the back of weaker crude futures.

BENZENE: $1,395-1,405/tonne FOB Korea, stable
Market opened with sporadic discussion levels. Offers for May loading were at $1,398-1,400/tonne FOB Korea, against bids at $1,360/tonne FOB Korea.

TOLUENE: $1,285-1,295/tonne FOB Korea, unchanged
Offers for April cargoes were at $1,320/tonne FOB Korea, which were countered with bids at $1,295/tonne FOB Korea. Bids for the May parcels were at $1,295/tonne FOB Korea.

ETHYLENE: $1,420-1,430/tonne CFR NE Asia, flat
There were no CFR NE Asia deals located. But a southeast Asian producer confirmed buying two 3,000-3,500-tonne spot cargoes of northeast Asia origin at close to $1,550/tonne CFR SE Asia.

PROPYLENE: $1,410-1,430/tonne CFR NE Asia, steady
Buying interest for second-half March arrival was capped at the low-$1,200/tonne CFR NE Asia levels, while offers have yet to emerge.

By: Staff Reporter
+44 20 8652 3214

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