EVENING SNAPSHOT - Asia Markets Summary

04 March 2013 10:00  [Source: ICIS news]

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

CRUDE: Apr WTI $90.40/bbl, down 28 cent/bbl; Apr BRENT $110.32/bbl, down 8 cents/bbl
Crude prices continued to trade lower on concerns over the US budget crisis, and the Chinese economy following recent release of downbeat data.

NAPHTHA: $959-962/tonne CFR Japan, down $7/tonne
Open-spec second-half April contract weakened further in afternoon trading on concerns over softening petrochemical demand.

BENZENE: $1,345-1,355/tonne FOB Korea, down $33-41/tonne
Offers and bids fell in the afternoon session, with the intermonth spread between April and May at a backwardation of $20/tonne. May cargoes were booked at $1,325-1,345/tonne FOB Korea.

TOLUENE: $1,194-1,199/tonne FOB Korea, down by 24-26/tonne
Offers for April-loading cargoes at $1,199-1,204/tonne FOB Korea gathered no response from buyers. May cargoes were offered at $1,200-1,210/tonne FOB Korea, while a sole bid for a May cargo was at $1,205/tonne FOB Korea.

ETHYLENE: $1,390-1,410/tonne CFR NE Asia, down $10/tonne
Concluding deals at above $1,400/tonne CFR NE Asia turned tough, as buying interest had earlier weakened to the high-$1,300/tonne CFR NE Asia levels.

PROPYLENE: $1,360-1,400/tonne CFR NE Asia, stable
No deals were located, while sporadic buying interest weakened below $1,350/tonne CFR NE Asia. Sellers stayed on the sidelines. No offers were heard.

By: Staff Reporter
+44 20 8652 3214

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