EVENING SNAPSHOT - Asia Markets Summary

12 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 $91.83/bbl, down 23 cents/bbl; Apr BRENT $109.93/bbl, down 29 cents/bbl
Crude prices softened slightly in the afternoon trade amid expectations of further rises in US oil stocks, as well as a stronger US dollar.

NAPHTHA: $949-951/tonne CFR Japan, down $10-11/tonne
Open-spec second-half April contract fell in afternoon trading on the back of weakening plastics demand.

BENZENE: $1,325-1,340/tonne FOB Korea, down $3/tonne at the low end, up $2/tonne at the high end
Trading has remained thin. Offers for May loading were at $1,308-1,310/tonne FOB Korea, which were countered with bids at $1,295/tonne FOB Korea.

TOLUENE: $1,170-1,177/tonne FOB Korea, down $23-25/tonne
Offer and bid levels fell, undermined by weaker market sentiment following sharp falls in the Asian equities markets. Offers for May cargoes were at $1,177/tonne FOB Korea, against bids at $1,170/tonne FOB Korea.

ETHYLENE: $1,300-1,320/tonne CFR NE Asia, down $10/tonne at the high end
Buying ideas were heard at $1,300/tonne CFR NE Asia or lower for April arrival. There was talk of another deal at below $1,300/tonne CFR NE Asia into Taiwan, but this could not be immediately confirmed.

PROPYLENE: $1,300-1,340/tonne CFR NE Asia, down $20/tonne at  the low end
Buying ideas for April-arrival cargoes were capped at around $1,300/tonne CFR NE Asia, against selling ideas at $1,330-1,340/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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