NOON SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Apr WTI  $92.64/bbl, up 1 cent/bbl; Apr BRENT $112.73/bbl, up 2 cents/bbl
Crude prices were range-bound on Wednesday morning after losing ground in the previous session amid renewed eurozone worries following the inconclusive Italian election.

NAPHTHA: $998-1,001/tonne CFR Japan, down $11-12/tonne
Open-spec first-half April contract fell because of overnight losses in Brent crude futures.

BENZENE: $1,390-1,400/tonne FOB Korea, down $10/tonne
Discussions were mostly about May loading, with offers quoted at $1,383-1,385/tonne FOB Korea that were countered with bids at $1,365-1,380/tonne FOB Korea. For April parcels, an offer was at $1,395/tonne FOB Korea, against bids at $1,375/tonne FOB Korea.     

TOLUENE: $1,265-1,270/tonne FOB Korea, stable
Offers for second-half March and May parcels were at $1,285/tonne FOB Korea, but there were no takers. Buying interest was subdued, undermined by weakening prices in the China domestic market.        

ETHYLENE: $1,420-1,430/tonne CFR NE Asia, stable
Discussions to buy a 3,000 tonne spot cargo for mid-March arrival were under way. Offers at $1,450/tonne CFR China were met with buying interest at the low-$1,400s/tonne CFR China.

PROPYLENE: $1,400-1,420/tonne CFR NE Asia, down $10/tonne
Selling ideas were heard at $1,420/tonne CFR NE Asia for second-half March arrival against buying interest capped at around $1,400/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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