EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Apr WTI $90.50/bbl, up 38 cents/bbl; Apr BRENT $110.77/bbl, up 68 cents/bbl
Crude prices gained further ground on Tuesday afternoon buoyed by news that China plans to increase spending in 2013 in order to achieve targeted 7.5% economic growth. A weaker US dollar added further support.

NAPHTHA: $948.00-950.00/tonne CFR Japan, down $10.50-11.50/tonne
Open-spec second-half April contract fell further despite rising crude futures, because petrochemical demand was seen dwindling.

BENZENE: $1,370-1,385/tonne FOB Korea, up $10-20/tonne
Offers for April loading were at $1,385/tonne FOB Korea, against bids at $1,375-1,380/tonne FOB Korea. For May lots, offers were at $1,358/tonne FOB Korea, against bids at $1,350/tonne FOB Korea.

TOLUENE: $1,205-1,210/tonne FOB Korea, up $11-15/tonne
An April cargo was sealed at $1,200/tonne FOB Korea. A May parcel was booked at $1,215/tonne FOB Korea.

ETHYLENE: $1,370-1,400/tonne CFR NE Asia, down $10-20/tonne
Buying interest weakened to $1,350/tonne CFR NE Asia and lower. No offers were heard.

PROPYLENE: $1,340-1,370/tonne CFR NE Asia, down $10-20/tonne
A spot cargo for second-half March arrival was heard sold into east China at below $1,350/tonne CFR.

By: Staff Reporter
+44 20 8652 3214

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