EVENING SNAPSHOT - Asia Markets Summary

01 March 2013 10:01  [Source: ICIS news]

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

CRUDE: WTI APR $91.70/bbl, down 35 cents; BRENT APR $111.13/bbl, down 25 cents
Crude prices continued to trade below the previous session close on Friday afternoon. Prices were undermined by concerns over the US economy and the unresolved budget crisis, weaker manufacturing data from China as well as Eurozone worries.

NAPHTHA: $971.50-973.50/tonne CFR Japan, up 50 cents at lower end, down 50 cents at upper end
Open-spec second-half April contract gained 50 cents at the lower end of the range but dropped 50 cents at the upper end in afternoon trading amid lower crude futures.

BENZENE: $1,386-1,388/tonne FOB Korea, down $5-10/tonne
Offers and bids fell in the afternoon session. An intermonth spread between April and May transacted at a backwardation of $21/tonne. A May cargo was booked at $1,365/tonne FOB Korea.

TOLUENE: $1,220-1,223/tonne FOB Korea, down $3-22/tonne
A deal for April loading was booked at $1,220/tonne FOB Korea. Offers for May cargoes were at $1,223-1,225/tonne FOB Korea, but there were no bidders.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, down $10/tonne at high end of the range
Buying interest was heard at below $1,400/tonne CFR NE Asia following the recent slump in feedstock naphtha and crude prices but no deals were located.

PROPYLENE: $1,360-1,400/tonne CFR NE Asia, down $20/tonne at low end of the range
Some deals were heard done at $1,360-1,365/tonne CFR China for arrival in the second half of March, market sources said.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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