EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Apr WTI $90.62/bbl, down 20 cents/bbl; Apr BRENT $111.44/bbl, down 17 cents/bbl
Crude prices softened in the afternoon trade, giving back gains made earlier in the day, buoyed by a rally in equity markets. But prices were undermined by a stronger US dollar.

NAPHTHA: $966.00-968.00/tonne CFR Japan, up $11.50-12.50/tonne
Open-spec second-half April contract rose in afternoon trading following cash trades. The first-half May contract was done at $954/tonne, while the second-half April/first-half May spread got traded at $12.50/tonne in backwardation.

BENZENE: $1,385-1,395/tonne FOB Korea, down $10-15/tonne
Two May parcels were booked at $1,345-1,348/tonne FOB Korea, while an April lot was sealed at $1,385/tonne FOB Korea. A half-month spread between first half of April and second half of April was transacted at a backwardation of $10/tonne.

TOLUENE: $1,220-1,235/tonne FOB Korea, down $10/tonne at the low end
Six May cargoes were transacted at $1,220-1,230/tonne FOB Korea. Offers for April loading were at $1,235/tonne FOB Korea, against bids at $1,220/tonne FOB Korea.

ETHYLENE: $1,330-1,350/tonne CFR NE Asia, down $40-50/tonne
A regional 3,000-3,500 tonne spot cargo was heard sold into Taiwan at around $1,330/tonne CFR for end-March arrival.

PROPYLENE: $1,320-1,350/tonne CFR NE Asia, down $20/tonne
Several spot cargoes for late March/early April arrival into China changed hands at the price range.

By: Staff Reporter
+44 20 8652 3214

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