EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Apr WTI $91.55/bbl, down 1 cent/bbl; Apr BRENT $110.90/bbl, down 25 cents/bbl
Crude prices regained some ground in the afternoon session  and were trading close to or slightly below the previous session’s close. Brent values were weighed down by news increased North Sea supplies following the resumption of Brent and Buzzard production after maintenance.

NAPHTHA: $962.00-964.00/tonne CFR Japan, up $5.50-6.50/tonne
Open-spec second-half April contract rose in afternoon trading, helped by physical trades. The first-half contract was done at $946/tonne, while the spread of first-half May and second-half May was done trice at $15.50/tonne in backwardation.

BENZENE: $1,325-1,335/tonne FOB Korea, up $8-10/tonne
Prices rebounded slightly in the afternoon session. Two May cargoes were sealed at $1,308-1,310/tonne FOB Korea. Offers for May cargoes were subsequently quoted at $1,305/tonne FOB Korea against bids at $1,300/tonne FOB Korea.

TOLUENE: $1,180-1,195/tonne FOB Korea, down $5/tonne at the low end, up $5/tonne at the high end
Three April parcels were concluded at $1,180-1,195/tonne FOB Korea, with an offer for first-half April at $1,185/tonne FOB Korea.

ETHYLENE: $1,330-1,350/tonne CFR NE Asia, stable
No fresh CFR NE Asia deals were located but discussions to sell a 9,000-10,000-tonne  cargo for end-March shipment from Taiwan were heard at $1,340-1,350/tonne FOB NE Asia.

PROPYLENE: $1,320-1,350/tonne CFR NE Asia, steady
Buyers stayed on the sidelines following recent price correction in the market. Buying interest remained at below $1,350/tonne CFR NE Asia.


By: Staff Reporter
+44 20 8652 3214



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