NOON SNAPSHOT - Asia Markets Summary

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

SINGAPORE (ICIS)--Here is Wednesday’s midday Asia oil and chemical markets summary from ICIS.

CRUDE: Apr WTI $92.71/bbl, up 17 cents/bbl; Apr BRENT $109.60/bbl, down 5 cents/bbl
WTI prices were supported by an expected fall in US crude stocks. Brent values edged just a few cents lower with European economic worries offset by a weaker US dollar.

NAPHTHA: $949-952/tonne CFR Japan, up $1/tonne at high end
Open-spec second-half April contract rose by $1/tonne at the high end of the range in tandem with crude futures.

BENZENE: $1,330-1,340/tonne FOB Korea, up $5/tonne on the low end 
Offers for May loading were at $1,308-1,310/tonne FOB Korea in the morning, while bids were heard at around $1,300/tonne FOB Korea.                 

TOLUENE: $1,170-1,177/tonne FOB Korea, stable
Offers for May-loading cargoes were at $1,185/tonne FOB Korea, meeting bids at $1,165/tonne FOB Korea. Meanwhile, a sole bid for a June-loading lot was at $1,165/tonne FOB Korea.

ETHYLENE: $1,300-1,320/tonne CFR NE Asia, stable
No fresh deals were heard done in the morning but buying interest from some end-users was maintained at or below $1,300/tonne CFR NE Asia.

PROPYLENE: $1,300-1,320/tonne CFR NE Asia, down $20/tonne at high end
Buying ideas for April arrival cargoes fell to $1,280-1,300/tonne CFR NE Asia amid weak demand from the derivative polypropylene (PP) sector while selling indications hovered at $1,320-1,330/tonne CFR NE Asia.

By: Staff Reporter
+44 20 8652 3214

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