NOON SNAPSHOT - Asia Markets Summary

04 March 2013 04:00  [Source: ICIS news]

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

CRUDE: Apr WTI $90.52/bbl, down 16 cent/bbl; Apr BRENT $110.33/bbl, down 7 cents/bbl
Crude prices were trading slightly lower amid concerns over the US budget crisis and the health of the Chinese economy.

NAPHTHA: $966.00-969.00/tonne CFR Japan, down $4.50-5.50/tonne
Open-spec second-half April contract edged lower in morning trading on concerns over dwindling demand in the downstream petrochemical sector.

BENZENE: $1,386-1,388/tonne FOB Korea, stable
Discussions for May loadings dominated the market, with offers quoted at $1,345-1,370/tonne FOB Korea, while bids were at $1,330-1,360/tonne FOB Korea. A deal for May cargo was booked at $1,340/tonne FOB Korea.

TOLUENE: $1,220-1,223/tonne FOB Korea, flat
Discussions were thin for April-loading cargoes. A sole offer for a May-loading cargo was heard at $1,234/tonne FOB Korea, with no bids heard.

ETHYLENE: $1,400-1,420/tonne CFR NE Asia, stable
Buying ideas remained at below $1,400/tonne CFR NE Asia while discussions are expected to kick off later in the week.

PROPYLENE: $1,360-1,400/tonne CFR NE Asia, steady
Buyers were largely sidelined following last week’s market fall. No deals were heard.

By: Staff Reporter
+44 20 8652 3214

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